23 Aug 2021
By noelkelman

What’s Ahead For Mortgage Rates This Week – August 23, 2021

Financial Reports, ,
Last week’s economic news included readings from the National Association of Home Builders on housing market conditions and Commerce Department readings on housing starts and building permits issued. Weekly readings on mortgage rates and jobless claims were also released. NAHB: August Builder Confidence Fell to Lowest Level in 13 Months Homebuilder confidence fell to its lowest level since July 2020 according to the National Association of Home Builder’s Housing Market Index for August. The HMI reading for August was 75; analysts expected a reading of 80 based on July’s index reading of 80. Readings over 50 represent positive sentiment among…
Read More
16 Aug 2021
By noelkelman

What’s Ahead For Mortgage Rates This Week – August 16, 2021

Financial Reports, ,
Last week’s economic reporting included readings on job openings, inflation, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. Job Openings Rise as Inflation Rate Falls The Labor Department reported a record number of job openings for the fourth consecutive month in June. Job openings rose to 10.1 million available jobs from May’s reading of 9.5 million job openings. Analysts expected job openings to decrease to 9.1 million jobs in June.  Analysts said that previous headwinds to hiring including generous unemployment benefits and childcare issues may be easing. Workers took advantage of the rising demand…
Read More
09 Aug 2021
By noelkelman

What’s Ahead For Mortgage Rates This Week – August 9, 2021

Financial Reports, ,
Last week’s economic reporting included readings on construction spending, consumer sentiment, labor sector reports on public and private sector jobs, and national unemployment. Weekly readings for mortgage rates and jobless claims were also released. Residential Sector Drove June Construction Spending Construction spending rose by 0.10 percent in June according to the Commerce Department. Analysts expected spending to increase by 0.50 percent, but builders spent less on public sector and non-residential projects. Spending for all construction spending rose at a year-over-year pace of $1.55 trillion. Residential construction rose by 1.10 percent in June, but public-sector spending fell by -1.20 percent and…
Read More
02 Aug 2021
By noelkelman

What’s Ahead For Mortgage Rates This Week – August 2, 2021

Financial Reports, ,
Last week’s economic reporting included readings on home prices, new and pending home sales, and the post-meeting statement of the Fed’s Federal Open Market Committee. Weekly readings on mortgage rates and jobless claims were also released. S&P Case-Shiller Home Price Indices: Home Price Growth Breaks Records for Second Consecutive Month National home prices grew by 16.60 percent year-over-year in May according to S&P Case-Shiller’s National Home Price Index. April’s reading reported year-over-year home price growth of 14.80 percent. Home price growth broke records for the second month in a row in May. S&P Case-Shiller’s 20-City Home Price Index reported top…
Read More
26 Jul 2021
By noelkelman

What’s Ahead For Mortgage Rates This Week – July 26, 2021

Financial Reports, ,
Last week’s economic reporting included readings from the National Association of Home Builders Housing Market Index, data on sales of new and previously-owned homes, and weekly reports on mortgage rates and jobless claims. NAHB: Affordability, Shortages of Labor and Materials Impacting U.S. Housing Markets Housing market conditions are changing according to July’s Housing Market Index produced by the National Association of Home Builders. Although the HMI reading declined by one point in July, ongoing trends including labor shortages, higher prices for building materials, and affordability impacted builder confidence in overall market conditions. July’s index reading was 80 as compared to…
Read More
19 Jul 2021
By noelkelman

What’s Ahead For Mortgage Rates This Week – July 19, 2021

Financial Reports, ,
Last week’s scheduled economic reports included readings on inflation, Fed Chair Jerome Powell’s testimony before the House Financial Services Committee, and the University of Michigan’s Consumer Sentiment Index. Weekly readings on mortgage rates and jobless claims were also released. Consumer Price Index: June Inflation Grows at Fastest Pace Since 2008 June’s Consumer Price Index showed the fastest pace of inflationary growth in 13 years; inflation grew by 5.40 percent on a seasonally-adjusted annual basis. Used car sales accounted for one-third of the growth, but prices also rose for clothes, food, energy, and travel/hospitality. The year-over-year inflation rate for May was…
Read More
12 Jul 2021
By noelkelman

What’s Ahead For Mortgage Rates This Week – July 12, 2021

Financial Reports, ,
Last week’s scheduled economic reporting included readings from the Fed’s Federal Open Market Committee, news on changing FHA home loan requirements for borrowers with student loans, and reporting on job openings. Weekly reports on mortgage rates and jobless claims were also released. FOMC Minutes Show Fed’s Reluctance to Raise Target Rate The Federal Open Market Committee of the Federal Reserve released minutes of its meeting held via teleconferencing on June 15 and 16. The Committee resumed its consideration of creating “domestic and foreign repurchase agencies that would have a backdrop role in fostering implementation and support of monetary policy and…
Read More
28 Jun 2021
By noelkelman

What’s Ahead For Mortgage Rates This Week – June 28, 2021

Financial Reports, ,
Last week’s economic reports included readings on sales of new and previously-owned homes.  Weekly readings on mortgage rates and jobless claims were also released. New Home Sales Fall in May New home sales dropped to their lowest reading in a year in May with 769,000 new single-family homes sold on a  seasonally adjusted annual basis.  May’s reading was 5.90 percent lower than April’s reading of 817,000 sales but was 9.20 percent higher year-over-year. May’s decline in new home sales was caused by a 14.50 percent decrease in sales in the South; Sales rose by 33 percent in the Northeast and…
Read More