Mortgage Rates

Last week's economic news included readings on new and existing home sales and mortgage rates. Also released were reports on new jobless claims and consumer sentiment. New and Existing Home Sales Lower in December According to the U.S. Commerce Department, sales of new homes fell to 536,000 sales on a seasonally-adjusted annual basis. This reading was markedly lower than the expected rate of 595,000 sales and November's reading of 598,000 sales. Analysts said that the drop in new home sales indicated that the housing sector is still experiencing a rocky recovery. December's reading for new home sales was 10.4 percent…

Economic news was impacted by the Martin Luther King holiday on Monday and the Presidential Inauguration on Friday. Readings released included reports on inflation, the National Association of Home Builders Housing Market Index and Commerce Department releases on housing starts and building permits issued. Weekly reports on mortgage rates and new jobless claims were released as scheduled. Home Builder Confidence Dips as Inflation Ticks Upward The National Association of Home Builders Housing Market Index dipped from December's reading of 69 to 67. Ongoing challenges including a short supply of lots for development and inability to hire skilled labor were cited,…

Last week's economic reports included readings on job openings, retail sales and consumer sentiment in addition to weekly reports on new jobless claims and Freddie Mac's survey of mortgage rates. Job Openings Hold Steady in November; Quits and Hires Increase According to the Labor Department, job openings held steady with a reading of 5.50 million openings in November, which matched October's reading. Hires and quits showed more activity, which analysts deemed a healthy sign for the economy. Workers typically hold on to their current jobs in times of economic uncertainty, while they may be more comfortable with changing jobs in…

Last week's economic reports included readings on job openings, retail sales and consumer sentiment in addition to weekly reports on new jobless claims and Freddie Mac's survey of mortgage rates. Job Openings Hold Steady in November; Quits and Hires Increase According to the Labor Department, job openings held steady with a reading of 5.50 million openings in November, which matched October's reading. Hires and quits showed more activity, which analysts deemed a healthy sign for the economy. Workers typically hold on to their current jobs in times of economic uncertainty, while they may be more comfortable with changing jobs in…

Last week's economic reports were in short supply due to the Christmas holiday. Events reported included Case-Shiller home price indices, pending home sales and weekly readings on mortgage rates and new jobless claims. Consumer confidence was also released.   Case-Shiller Readings Indicate No Slowdown in Home Price Gains Case-Shiller's October readings for its home price indices showed continued growth in home prices. In spite of rising home prices and mortgage rates, high demand for homes and slim supplies of homes for sale continued to fuel higher home prices. According to Case-Shiller's national home price index for October, home prices rose…

Last week's economic news included readings on consumer spending, core inflation new home sales and regularly scheduled readings on mortgage rates and new jobless claims. Consumer Spending Dips in November Commerce Department reports on consumer spending in November indicated that consumer spending was lower in November with 0.20 percent growth as compared to October's reading of 0.40 percent growth. November's reading for core inflation, which excludes volatile food and energy sectors, was flat as compared to expectations of 0.10 percent growth and October's reading of 0.10 percent growth. New Jobless Claims Rise to 6-Month High New jobless claims jumped to…