18
Jul
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – July 18, 2022

Inflation dominated last week’s economic readings and predictions as it hit a year-over-year growth rate of  9.10 percent in July. Inflation reached its highest year-over-year growth rate since 1981. Gasoline prices eased somewhat, but not enough to provide relief against a backdrop of high housing and food prices. Low and moderate-income consumers were disproportionately impacted as rents rose beyond near-record inflation and home prices remained out of reach for many would-be home buyers. Inflation Causing Hardship for Moderate-Income Consumers Consumers faced with rapidly growing expenses turned to credit cards for purchasing food and household items; this trend suggests that as…
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05
Jul
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – July 5, 2022

Last week’s scheduled economic news included reports on home prices, pending home sales, and inflation. Weekly readings on mortgage rates and jobless claims were also released. S&P Case-Shiller: National Home Price Growth Ticks Down in April Home price growth slowed in April according to the S&P Case-Shiller National Home Price Index as growth slowed by 0.20 percent to a 20.40 percent gain year-over-year. Slower growth in home prices suggested that affordability concerns have caught up with the rapid home price growth seen during the pandemic. The S&P Case-Shiller 20-City Home Price Index reported that Tampa, Florida home prices gained 35.8…
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01
Jul
By Jim Hasek
Financial Reports, ,

Case-Shiller: Home Price Growth Slows in April

U.S. home price growth continued but slowed in April according to the S&P Case-Shiller Home Price Indices. The national home price index posted year-over-year home price growth of 20.4 percent in April as compared to the corresponding home price growth rate of 20.6 percent in March. Analysts said that diminishing affordability was slowing rapid gains in home prices seen during the pandemic. 20-City Home Price Index: Florida and Arizona Report Top Home Price Growth Rates The top three cities for year-over-year home price growth in April’s 20-City Home Price Index were Tampa, Florida with a reading of 35.8 percent; Miami,…
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27
Jun
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – June 27, 2022

Last week’s economic reporting included readings on home sales, Fed Chair Jerome Powell’s testimony on monetary policy to the House Financial Services Committee, and the University of Michigan’s Consumer Sentiment Index. Weekly reports on mortgage rates and jobless claims were also released. New Home Sales Pace Rises as Pre-Owned Homes Sales Pace Slows The Commerce Department reported a seasonally-adjusted annual pace of 696,000 new homes sold in May; analysts predicted a year-over-year pace of 587,000 new homes sold as compared to April’s year-over-year pace of 629,000  new homes sold. While the year-over-year pace of new home sales increased by 10.70…
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21
Jun
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – June 21, 2022

Last week’s economic news included reporting on home builder confidence in national and regional housing markets, a post-meeting statement from the Federal Reserve’s Federal Open Market Committee, and Fed Chair Jerome Powell’s news conference. The National Association of Home Builders released its national and regional housing market indices. Weekly readings on mortgage rates and jobless claims were also published. NAHB Housing Market Indices Reflect Slowing Growth in Housing Markets June readings from the National Association of Home Builders showed slower growth in builder confidence in current and future U.S. housing markets. The NAHB reported the lowest reading in two years…
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13
Jun
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – June 13, 2022

Last week’s economic reporting was highly focused on inflation, which grew at its fastest pace since 1981. Rising fuel and food prices boosted inflation in the U.S. and abroad; Analysts said the Ukraine War and supply chain problems continued to drive inflation. Weekly readings on mortgage rates and jobless claims were also released. Inflation Hits Highest Level in 41 Years The government’s Consumer Price Index, which tracks inflation, rose at a month-to-month pace of 1.0 percent in May compared to the expected reading of 0.70 percent and April’s reading of 0.30 percent growth. May’s Core Consumer Price Index, which excludes…
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