22 Mar 2021
By noelkelman

What’s Ahead For Mortgage Rates This Week – March 22, 2021

Financial Reports, ,
Last week’s economic reports included readings from the National Association of Home Builders on housing markets and Commerce Department data on housing starts and building permits issued. Weekly reports on mortgage rates and jobless claims were also released. NAHB: Builder Confidence Slips as Materials Costs Rise The National Association of Home Builders reported that its Housing Market Index fell to an index reading of 82 in March as compared to February’s index reading of  84. Analysts forecasted a reading of 83. Builder concerns included rising materials costs and mortgage rates, which impact home pricing and affordability.  Robert Dietz, Chief Economist…
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02 Nov 2020
By noelkelman

What’s Ahead For Mortgage Rates This Week – November 2, 2020

Financial Reports, ,
Last week’s economic reporting included home price data from Case-Shiller Home Price Indices along with readings on pending home sales, new home sales, and consumer sentiment. Weekly reports on mortgage rates and jobless claims were also released. Case-Shiller: August Home Prices Rise at Fastest Pace in Two Years Home prices rose at a seasonally-adjusted annual pace of 5.70 percent in August according to Case-Shiller’s National Home Price Index. U.S. home prices rose by 4.80 percent in July The Case-Shiller 20-City Home Price Index showed 5.20 percent year-over-year home price growth in August. Phoenix, Arizona, held first place in home price…
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15 Jun 2020
By noelkelman

What’s Ahead For Mortgage Rates This Week – June 15, 2020

Financial Reports, ,
Last week’s economic reporting included readings on inflation, the post-meeting statement from the Fed’s Federal Open Market Committee, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. Inflation Ticks Up in May May’s Consumer Price Index moved from April’s reading of -0.80 percent to -0.10 percent. The Core Consumer Price Index, which excludes volatile food and energy sectors, rose to -0.40 percent in May as compared to April’s reading of -0.40 percent. The Consumer Price Indices are used to calculate overall and core inflation rates. The Federal Reserve uses an annual inflation rate of 2.00…
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08 Jun 2020
By noelkelman

What’s Ahead For Mortgage Rates This Week – June 8, 2020

Financial Reports, ,
Last week’s economic news included readings on construction spending and labor reports on public and private sector jobs and the national unemployment rate. Weekly readings on mortgage rates and first-time jobless claims were also released. Construction Spending Falls in April The Commerce Department reported lower than expected deficits in consumer spending in April. Construction spending fell by -2.90 percent from the March reading of 0.00 percent growth in spending; analysts expected 6.80 percent less construction spending for April due to the Coronavirus pandemic. Additional declines in construction spending are expected for May and June as impacts of the Coronavirus and…
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01 Jun 2020
By noelkelman

What’s Ahead For Mortgage Rates This Week – June 1, 2020

Financial Reports, ,
Last week’s economic reports included monthly readings from Case-Shiller Home Price Indices, FHFA home prices, and readings on new and pending home sales. Weekly reports on mortgage rates and first-time jobless claims were also released. Case-Shiller Home Price Indices: Home Price Growth Pace Increased In March National home prices rose at a year-over-year pace of 4.50 percent in March from February’s reading of 4.20 percent. According to the Case-Shiller 20-City Home Price Index, home prices rose by 0.40 percent to a year-over-year growth rate of 3.90 percent. The three cities reporting the highest rates of home price growth year-over-year were…
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26 May 2020
By noelkelman

What’s Ahead For Mortgage Rates This Week – May 26th, 2020

Financial Reports, ,
Last week’s economic news included readings from the National Association of Home Builders on housing market conditions and reports on housing starts and building permits issued. Fed Chair Jerome Powell testified before Congress about the impact of Covid-19. Weekly reports on mortgage rates and first-time jobless claims were also released. NAHB: Home Builder Confidence Improves in May Home-builder confidence rose seven points in May to an index reading of 37; April’s reading of 30 was the lowest reading for the NAHB Housing Market Index since June 2012. Low mortgage rates and expectations that the worst of the Covid-19 pandemic had…
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18 May 2020
By noelkelman

What’s Ahead For Mortgage Rates This Week – May 18th, 2020

Financial Reports, ,
Last week’s economic news included readings on inflation, retail sales, and a speech by Federal Reserve Chair Jerome Powell. The University of Michigan released a preliminary reading of its Consumer Sentiment Survey; weekly readings on mortgage rates and initial jobless claims were also released. April Inflation and Retail Sales in Negative Territory Consumer prices fell in April to a negative reading of -0.80 percent and matched expectations. The Core Consumer Price Index, which excludes volatile food and energy sectors, fell to -0.40 percent from -0.10 percent in March. Analysts expected a reading of -0.20 percent. Consumer Price Indices are used…
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11 May 2020
By noelkelman

What’s Ahead For Mortgage Rates This Week – May 11th, 2020

Financial Reports, ,
Last week’s economic releases included readings on public and private sector employment, the national unemployment rate. Economic Destruction Continues as Coronavirus Spreads ADP reported 20.2 million private-sector jobs lost in April as compared to 149,000 jobs lost in March. The government’s Non-Farm Payrolls report showed -20.5 million public and private-sector jobs lost in April as compared to -870,000 jobs lost in March. Both of these jobs reports typically show job growth, but they now report jobs lost due to the coronavirus pandemic and efforts to control it. Likewise, the national unemployment rate grew in April to 14.70 percent as compared…
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