31
May
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – May 31, 2022

Last week’s economic reporting included readings on new and pending home sales, minutes from the Federal Reserve's recent Federal Open Market Committee meeting, and data on inflation. Weekly readings on mortgage rates and jobless claims were also released. New and Pending Home Sales Fall The annual pace of new home sales fell in April according to the Commerce Department. Year-over-year sales of new homes fell to a pace of 591,000 sales as compared to the March reading of 709,000 sales of new homes. Analysts expected a year-over-year pace of 750,000 new home sales in April. Rising home prices and mortgage…
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16
May
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – May 16, 2022

Last week’s economic reporting included readings and forecasts on inflation and the University of Michigan’s preliminary consumer sentiment survey. Weekly readings on mortgage rates and jobless claims were also released. Inflation Reports: Mixed Results for April Commerce Department readings on consumer inflation showed mixed results in April; the Consumer Price Index dropped to 0.30 percent growth from the March reading of 1.20 percent inflation. Analysts expected 0.30 percent growth from March to April. The Core Consumer Price Index, which excludes volatile food and fuel sectors, rose by 0.60 percent in April as compared to the March reading of 0.30 percent…
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09
May
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – May 9, 2022

Last week’s scheduled economic reports included readings on construction spending, the Federal Reserve’s Federal Open Market Committee statement, and the Fed Chair’s press conference. Readings on public and private-sector jobs growth and the national unemployment rate were released along with weekly readings on mortgage rates and jobless claims. Construction Spending Slows in March, Fed Raises Key Rate Construction spending fell in March according to the Commerce Department. Spending increased by 0.10 percent as compared to the expected reading of 0.80 percent and February’s reading of 0.50 percent. Less construction spending could indicate a slowdown in building as builders face rising…
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02
May
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – May 2, 2022

Last week’s economic reporting included readings from S&P Case-Shiller Home Price Indices, the Federal Housing Finance Agency House Price Index, and the Commerce Department on sales of new homes. Weekly readings on mortgage rates and jobless claims were also reported. S&P Case-Shiller, FHFA Report Near-Record Home Price Growth February home prices continued their rapid growth, but analysts hinted at a coming slowdown in-home price growth as would-be buyers were faced with rising mortgage rates and affordability concerns. S&P Case-Shiller’s National Home Price Index reported year-over-year home price growth of 19.80 percent as compared to January’s national home price growth rate of…
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27
Apr
By Jim Hasek
Financial Reports, ,

Case-Shiller, FHFA Post New Records for Home Price Growth

S&P Case-Shiller’s National Home Price Index rose by 19.80 percent year-over-year in February and was the third-largest pace of home price growth since the National Home Price Index’s inception. The 20-City Home Price Index reported that Phoenix, Arizona held its first-place ranking with year-over-year home price growth of 32.90 percent. Tampa, Florida maintained its second-place standing with year-over-year home price growth of 32.60 percent. Miami, Florida reported year-over-year home price growth of 29.70 percent year-over-year. Home prices rose faster for all 20 cities in February than in January. Rapid Home Price Growth Expected to Slow as Rising Mortgage Rates Take…
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25
Apr
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – April 25, 2022

Last week’s economic reporting included the National Association of Home Builders Housing Market Index, government readings on housing starts and building permits, and data on sales of previously-owned homes. Weekly readings on mortgage rates and jobless claims were also released. NAHB: Builder Confidence in Housing Market Conditions Slips by Two Points Homebuilder confidence fell by two points to an index reading of 77 in April and was the lowest reading since September. Analysts expected this dip as mortgage rates and building materials costs continued to rise. Index readings over 50 indicate that most builders have positive views of housing market…
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