05
Apr
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – April 5, 2021

Last week’s economic reports included readings on home prices, pending home sales, and construction spending. Data on public and private-sector employment and the national unemployment rate were published along with weekly readings on mortgage rates and jobless claims.  vLast week’s economic reports included readings on home prices, pending home sales, and construction spending. Data on public and private-sector employment and the national unemployment rate were published along with weekly readings on mortgage rates and jobless claims. Last week’s economic reports included readings on home prices, pending home sales, and construction spending. Data on public and private-sector employment and the national unemployment…
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01
Apr
By Jim Hasek
Financial Reports, ,

Case-Shiller: Phoenix Home Prices Hot, Hotter, and Hottest

The S&P Case-Shiller National Home Price Index posted its highest gain in nearly 15 years with a year-over-year home price growth rate of 11.20 percent in January. The December 2020  National Home Price Index reported 10.40 percent home price growth. The S&P Case-Shiller 20-City Home Price Index reported 11.10 percent year-over-year growth with 19 of 20 cities reporting higher home prices. Cleveland, Ohio was the only city reporting no home price growth in January. Detroit, Michigan reported home price growth data for the first time in nearly a year. Phoenix, Seattle, and San Diego Home Prices are Hot, Hotter, and…
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29
Mar
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – March 29, 2021

Last week’s economic news included readings on sales of new and previously-owned homes along with final March index readings on consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. Sales of New and Pre-Owned Homes Fall in February Weather-related problems disrupted sales of new and previously-owned homes in February as low inventories of homes for sale further stalled sales. The National Association of Realtors® said that sales of new and pre-owned homes were slowed by persistent shortages of homes on the market. Shortages of available homes were common before the pandemic and are more pronounced now.…
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22
Mar
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – March 22, 2021

Last week’s economic reports included readings from the National Association of Home Builders on housing markets and Commerce Department data on housing starts and building permits issued. Weekly reports on mortgage rates and jobless claims were also released. NAHB: Builder Confidence Slips as Materials Costs Rise The National Association of Home Builders reported that its Housing Market Index fell to an index reading of 82 in March as compared to February’s index reading of  84. Analysts forecasted a reading of 83. Builder concerns included rising materials costs and mortgage rates, which impact home pricing and affordability.  Robert Dietz, Chief Economist…
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15
Mar
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – March 15, 2021

Last week’s economic reporting included data on inflation and job openings, and weekly readings n mortgage rates, and jobless claims. Inflation Rate Rises in February Consumer prices grew by 0.40 percent in February according to the federal government’s Consumer Price Index; the year-over-year inflation rate rose from January’s reading of 1.40 percent to 1.70 percent. Consumer prices rose at their fastest pace in six months as rising fuel prices caused the jump in consumer prices. The Core Consumer Price Index, which does not include volatile food and fuel sectors, rose by 0.10 percent in February and matched analysts’ expectations. Analysts…
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08
Mar
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – March 8, 2021

Last week’s scheduled economic news included readings on construction spending and labor sector reports on public and private sector jobs. The national unemployment rate was published along with weekly readings on mortgage rates and jobless claims. Federal Reserve Chair Jerome Powell also spoke at a jobs summit. Construction Spending Rises in January U.S construction spending rose at a seasonally-adjusted annual pace of 1.70 percent in January as compared to 1.10 percent growth reported in December. Year-over-year construction spending was 5.80 percent higher in January 2021.  Residential construction spending reported in January rose to $713 billion on a seasonally-adjusted annual basis…
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