12
Sep
By Jim Hasek
Mortgage Rates,

What’s Ahead For Mortgage Rates This Week – September 12, 2016

Few economic reports were released last week due to the Labor Day Holiday. The Federal Reserve released its Beige Book Report, which documents anecdotes shared with the Fed by its regional business contacts. A job openings report, weekly jobless claims and Freddie Mac's survey of mortgage rates was also released. Fed's Beige Book: Approaching Election Dampens Business Growth According to the Federal Reserve's survey of business contacts within its 12 districts, November's election is causing business owners to take a "wait and see" position regarding expansion plans. Commercial real estate contacts in several Fed districts cited modest projections for sales…
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06
Sep
By Jim Hasek
Mortgage Rates,

What’s Ahead For Mortgage Rates This Week – September 6, 2016

Last week's economic reports included readings on pending home sales, construction spending and consumer sentiment. Case-Shiller Home Price Indices for June were released, along with several labor-related reports including national unemployment, ADP Payrolls and Non-Farm Payrolls were also released along with weekly readings on new jobless claims and Freddie Mac's survey of average mortgage rates. Case-Shiller: Home Price Growth Holds Steady in June According to the Case-Shiller 20-City Home Price Index for June, average national home prices held steady with a seasonally adjusted annual growth rate of 5.10 percent in June. The top three cities for home price growth were…
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15
Aug
By Jim Hasek
Mortgage Rates,

What’s Ahead For Mortgage Rates This Week – August 15, 2016

Last week's economic news included reports on job openings, retail sales and recurring reports on mortgage rates and new jobless claims. Job openings and hiring increased, which provided further evidence of stronger economic conditions. Retail sales were flat in July, new unemployment claims dropped and mortgage rates changed little. Labor Reports Suggest Stronger Economic Trends The Labor Department reported more job openings in June with 5.60 openings as compared to 5.50 million job openings in May. According to the Job Openings and Labor Turnover Survey, 5.13 million workers were hired in June as compared to May's reading of 5.15 million…
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08
Aug
By Jim Hasek
Mortgage Rates,

What’s Ahead For Mortgage Rates This Week – August 8, 2016

Last week's economic reports included construction spending, personal income, and multiple reports on employment. Freddie Mac's mortgage rates survey and new jobless claims were also released. Construction Spending Dips in June According to the Commerce Department, construction spending fell in June to -0.60 percent as compared to expectations of an increase of 0.50 percent and May's reading of -0.10 percent. Spending was even across public and private construction spending. The Commerce Department said that construction spending on June rose to $1.13 trillion was 0.30 percent year-over-year and was 6.20 percent higher for the first six months of 2016 as compared…
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01
Aug
By Jim Hasek
Mortgage Rates,

What’s Ahead For Mortgage Rates This Week – August 1, 2016

Last week's economic reports included S&P Case-Shiller Housing Market Indices, reports on new and pending home sales, Freddie Mac's weekly mortgage rates survey. The Federal Reserve released its customary statement after the scheduled Federal Open Market Committee meeting concluded; the Committee did not raise the federal funds rate of 0.25 percent, but indicated that economic risks were fewer, which suggested that the key Fed rate may be increased in September. According to the S&P Case-Shiller 20-City Home Price Index for May, home price growth dipped from 5.40 percent in April to 5.20 percent in June as calculated on a seasonally-adjusted…
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27
Jul
By Jim Hasek
Mortgage Rates, ,

Case-Shiller: Home Price Growth Slows in May

According to the S&P Case-Shiller 20-City Home Price Index, home price growth in May dropped to a seasonally adjusted annual rate of 5.20 percent as compared to April's reading of 5.40 percent. Analysts said that low mortgage rates continue to support housing markets, but also noted that affordability due to rising home prices is sidelining some would-be buyers. High demand for homes coupled with slim supplies of available homes have driven prices up for months; analysts said that "tentative signs" of slower gains in home prices were seen. New Home Sales Hit Highest Level Since 2008 David M. Blitzer, Chairman…
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