09
Apr
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – April 9th, 2018

Last week's economic reports included readings on construction spending, mortgage rates and weekly jobless claims. Other labor-related claims included ADP payrolls, Non-Farm Payrolls and the national unemployment rate. Construction Spending Rises in February Construction spending was higher in February according to the Commerce Department. Spending on building projects rose by 0.10 percent in February Reuters reported that construction spending rose 0.10 percent as compared to expectations of an 0.40 percent increase and January's unchanged reading. Seasonal weather conditions typically cause lulls in building. Analysts said that residential construction spending increased by 0.10 percent to its highest level since January 2007.…
Read More
02
Apr
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – April 2nd, 2018

Last week's economic releases included readings from Case-Shiller, pending home sales, and consumer sentiment. Weekly reports on mortgage rates and first-time jobless claims were also released.     Case-Schiller: Home Prices Continue to Rise According to Case-Shiller Home Price Index reports for January, U.S. home prices continued to rise at a rapid pace with the national home price index rising at a seasonally-adjusted annual rate of 6.20 percent. Case-Shiller's 20-City Home Price Index rose by 6.40 percent year-over-year. Seattle, Washington held the top spot with year-over-year home price growth of 12.90 percent. Las Vegas, Nevada reported year-over-year home price growth of…
Read More
26
Mar
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – March 26th, 2018

Last week's economic releases included readings on new and pre-owned home sales and the Federal Open Market Committee's customary post meeting statement. Fed Chair Jerome Powell gave his first press conference as Chair of the Federal Reserve and FOMC. Weekly readings on mortgage rates and first-time jobless claims were also released. February Sales of Pre-Owned Homes Exceed Expectations, New Home Sales Fall Short Sales of previously-owned homes exceeded expectations at a seasonally-adjusted annual rate of 5.54 million sales. Analysts expected a rate of 5.40 million sales based on January's reading of 5.38 million sales. Lawrence Yun, National Association of Realtors® Chief…
Read More
19
Mar
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – March 19th, 2018

Last week's economic news included readings From National Association of Home Builders, Commerce Department reports on housing starts and building permits issued Weekly readings on mortgage rates and new jobless claims were also released. NAHB Posts 3rd Consecutive Decline in Builder Confidence According to the National Association of Home Builders, builder confidence in housing market conditions dropped by one point in March to an index reading of 70. Three sub-categories of builder sentiment used to calculate the overall reading were either unchanged or lower than February readings.  Confidence in current market conditions were unchanged at 72, Builder confidence in market…
Read More
12
Mar
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – March 12th, 2018

Last week's economic releases included reports on Non-Farm Payrolls, ADP payrolls, and the national unemployment rate. Weekly readings on mortgage rates and new jobless claims were also released. Public and Private Sector Jobs Show Mixed Readings ADP Payrolls reported 235,000 private sector jobs added in February as compared to January's updated reading of 243,000 jobs added. Analysts estimated 205,000 private sector jobs would be added, but this was based on the original reading of 234,000 jobs added. February was the fourth consecutive month when private sector job growth exceeded 200,000 jobs. According to the federal government, Non-Farm payrolls added 74000…
Read More
05
Mar
By Jim Hasek
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – March 5th, 2018

Last week's economic releases included readings on new home sales, pending home sales and Case-Shiller Home Price Indices. Construction spending and consumer sentiment reports were also released, along with weekly readings on average mortgage rates and new jobless claims. New Home Sales Drop in January New home sales were reported at a seasonally-adjusted annual rate of 593,000 sales in January according to the Commerce Department. Analysts expected a rate of 693,000 sales based on December's upwardly revised rate of 643,000 sales of new homes. January's reading was 7.80 percent lower than for December; January's reading was one percent lower than…
Read More