22 May 2023
By noelkelman

What’s Ahead For Mortgage Rates This Week – May 22, 2023

Financial Reports, ,
Last week’s economic reporting included readings on U.S. housing markets, sales of previously-owned homes, housing starts, and building permits issued. Weekly readings on mortgage rates and jobless claims were also released. NAHB: U.S. Home Builder Confidence Rises in May The National Association of Home Builders reported a five-point gain in home builder confidence in current housing market conditions in May. The index reading for May rose to 50 in May as compared to April’s reading of 45. Analysts expected a reading of 45 for May. Readings above 50 indicate a majority of home builders are positive about current housing market…
Read More
15 May 2023
By noelkelman

What’s Ahead For Mortgage Rates This Week – May 15, 2023

Financial Reports, ,
Last week’s scheduled economic reporting included readings on inflation, consumer sentiment, and weekly readings on mortgage rates and jobless claims. Inflation Rate Rises in April, Slower Pace Expected in Coming Months The  U.S. Labor Department reported the month-to-month pace of inflation rose by 0.40 percent in April and matched analysts’ expectations. April’s reading surpassed the March reading of 0.10 percent month-to-month inflationary growth. Inflation rose by 4.90 percent year-over-year in April. Analysts expect inflationary growth to continue, but at a slower pace through 2023. Core inflation, which excludes volatile food and fuel sectors, rose at a month-to-month pace of 0.40…
Read More
08 May 2023
By noelkelman

What’s Ahead For Mortgage Rates This Week – May 8, 2023

Financial Reports, ,
Last week’s economic news included reporting on construction spending, the Federal Reserve’s decision to raise its benchmark interest rate, and weekly readings on mortgage rates and jobless claims. Construction Spending Increases in March The Commerce Department reported that month-to-month construction spending rose by 0.30 percent and year-over-year construction spending increased by $1.83 trillion. Residential construction fell by -0.20 percent in March, which was the tenth consecutive monthly decline in residential construction spending. Non-residential construction spending rose by 0.70 percent in March for the ninth gain in the past 10 months. Fed Raises Key Interest Rate Range Federal Reserve policymakers raised…
Read More
17 Apr 2023
By noelkelman

What’s Ahead For Mortgage Rates This Week – April 17, 2022

Financial Reports, ,
Last week’s economic reporting included readings on inflation, retail sales, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. March Inflation Slows as Retail Sales Fall Inflation slowed to a month-to-month pace of 0.10 percent in March as compared to February’s reading of 0.40 percent growth. Year-over-year inflation rose by 5.00 percent and fell short of analysts’ expected reading of 5.10 percent year-over-year inflation and February’s year-over-year inflation rate of 6.00 percent. Core inflation, which excludes volatile readings for food and fuel, rose by 0.40 percent in March and matched analysts’ expectations.  The year-over-year reading…
Read More
10 Apr 2023
By noelkelman

What’s Ahead For Mortgage Rates This Week – April 10, 2023

Financial Reports, ,
Last week's economic reporting included readings on construction spending and labor sector readings on employment and the national unemployment rate for March. Weekly readings on mortgage rates and jobless claims were also released. Commerce Department: February Construction Spending Falls The U.S. Commerce Department reported less construction spending in February than in January as construction spending fell by 0.10 percent to a year-over-year reading of $1.844 trillion for all types of construction. Year-over-year construction spending increased by 5.20 percent.  While total construction spending fell in February, residential construction spending increased. Spending on single-family home construction slowed due to builders’ concerns over…
Read More
03 Apr 2023
By noelkelman

What’s Ahead For Mortgage Rates This Week – April 3, 2023

Financial Reports, ,
Last week’s economic reporting included readings on home prices, inflation, and pending home sales. Weekly readings on mortgage rates and jobless claims were also published. S&P Case-Shiller Home Price Indices Report Slower Home Price Growth in January Home price growth cooled in January according to S&P Case-Shiller’s 20-City Home Price Index. Home prices increased by 2.50 percent year-over-year in January but rose at a slower pace than December’s reading of 4.60 percent. The FHFA Home Price Index also showed slower growth in January with year-over-year home price growth of  5.30 percent as compared to December’s home price growth rate of…
Read More
27 Mar 2023
By noelkelman

What’s Ahead For Mortgage Rates This Week – March 27, 2023

Financial Reports, ,
Last week’s financial and economic reporting included readings on sales of new and previously-owned homes, along with weekly data on mortgage rates and jobless claims. Single-Family Home Sales Rise in February Year-over-year sales of previously owned homes rose 14.5 percent to a seasonally-adjusted pace of 4.58 million sales. Analysts expected 4.20 million sales of pre-owned homes as compared to January’s year-over-year reading of 4.0 million sales. February’s increased sales halted 12 months of falling sales of previously-owned homes. February’s reading marked the highest pace of sales since July 2020, when sales of pre-owned homes rose by 22.40 percent. The National…
Read More
20 Mar 2023
By noelkelman

What’s Ahead For Mortgage Rates This Week – March 20, 2023

Financial Reports, ,
Last week’s economic reporting included readings on housing starts and building permits issued, the National Association of Home Builders Housing Market Index, and Fed Chair Janet Yellen’s Senate testimony. The Commerce Department reported on housing starts and building permits issued published, and a monthly reading on consumer sentiment was published. Weekly reports on mortgage rates and jobless claims were also released. Two bank failures instill fear in depositors In the aftermath of two bank failures last week,  US Treasury Secretary Janet Yellen said that “the banking system is sound” during testimony to the US Senate last Thursday. When asked if…
Read More