04 May 2020
By noelkelman

What’s Ahead For Mortgage Rates This Week – May 4th, 2020

Financial Reports, ,
Last week’s economic reports included readings from Case-Shiller Housing Market Indices, pending home sales, and inflation. Weekly readings on mortgage rates and first-time jobless claims were also released. Case-Shiller: February Home Price Data Positive Before Coronavirus Impact February data on home prices showed rising home prices; the Case-Shiller National Home Price Index showed 4.20 percent growth in home prices year-over-year as compared to January’s home price growth rate of 3.90 percent. Case-Shiller’s 20-City Home Price Index rose by 0.40 percent from a year-over-year rate of  3.10 percent to 3.50 percent. Home prices increased in all of the 20 cities included…
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27 Apr 2020
By noelkelman

What’s Ahead For Mortgage Rates This Week – April 27th, 2020

Financial Reports, ,
Last week’s scheduled economic news included readings on sales of new and previously-owned homes and consumer confidence. Weekly readings on mortgage rates and new jobless claims were also released. COVID-19 Requirements Impact Home Sales Widespread state and local requirements for sheltering at home negatively impacted home sales in March. New homes sold at an annual pace of 627,000 sales as compared to 741,000 sales reported in February. Analysts estimated 628,000 sales for March according to the Commerce Department. The National Association of Realtors® reported lower sales of previously-owned homes in March with an annual pace of 5.27 million sales. February’s…
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20 Apr 2020
By noelkelman

What’s Ahead For Mortgage Rates This Week – April 20th, 2020

Financial Reports, ,
Last week’s scheduled economic reporting included readings on home builder sentiment, housing starts and building permits issued. Weekly reports on mortgage rates and initial jobless claims were also released NAHB: Homebuilder Confidence Crashes as Coronavirus Impacts Construction Homebuilder sentiment concerning housing market conditions dropped significantly in April according to the National Association of Home Builders Housing Market Index. April’s index reading of 30 was the largest month-to-month drop recorded since the Housing Market Index started 30 years ago. Homebuilder confidence was 42 points lower than the March reading of 72 and was the lowest reading since June 2012. Index readings…
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13 Apr 2020
By noelkelman

What’s Ahead For Mortgage Rates This Week – April 13th, 2020

Financial Reports, ,
Last week’s economic reports were limited due to closures connected with coronavirus regulations. The Federal Reserve did not issue minutes for the most recent Federal Open Market Committee meeting as the meeting was canceled. Inflation readings were released; weekly readings on mortgage rates and new jobless claims were released along with the University of Michigan’s Consumer Sentiment Index. Consumer Price Index Falls In March The Consumer Price Index dropped by -0.40 percent in March; this was its biggest decline in five years. Lower inflation was largely due to falling fuel prices. The Core Consumer Price Index, which excludes volatile food…
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06 Apr 2020
By noelkelman

What’s Ahead For Mortgage Rates This Week – April 6th, 2020

Financial Reports, ,
Last week’s economic reporting included readings on pending home sales, Case-Shiller Home Price Indices, and Bureau of Labor Statistics reports on national unemployment. Weekly readings on mortgage rates and first-time jobless claims were also released. Pending Home Sales Slow in February Before Coronavirus Took Hold The National Association of Realtors® reported fewer pending home sales in February as the coronavirus gained traction. Pending sales rose by 2.40 percent in February as compared to January’s growth rate of 5.30 percent. Before the outbreak, pending home sales gained momentum in all U.S. regions. Pending home sales are sales for which signed purchase…
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30 Mar 2020
By noelkelman

What’s Ahead For Mortgage Rates This Week – March 30th, 2020

Financial Reports, ,
Scheduled monthly readings were released for new home sales and consumer sentiment. Weekly readings on mortgage rates and new jobless claims were also released. New Home Sales Beat Expectations in February Sales of new homes dropped 4.40 percent in February after reaching a 13-year high in January. 765,000 new homes were sold on a seasonally-adjusted annual basis, which exceeded expectations of 750,000 sales in February. New home sales were 14.30 percent higher year-over-year. Analysts said that further declines monthly new home sales are expected as the coronavirus spreads. The national median price for a new home was $345,900 and there…
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23 Mar 2020
By noelkelman

What’s Ahead For Mortgage Rates This Week -March 23rd , 2020

Financial Reports, ,
Last week’s economic reports included readings from the National Association of Home Builders on housing market conditions, Commerce Department readings on housing starts and building permits issued and  National Association of Realtors® reporting on sales of previously-owned homes. The Federal Reserve canceled the scheduled meeting of the Federal Open Market Committee and Fed Chair’s press conference, but the Fed did lower its target federal funds rate early in the week. Weekly readings on mortgage rates and initial jobless claims were also released.  Builder Confidence, Housing Starts and Building Permits Decrease Builder confidence in housing market conditions dropped two index points…
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17 Mar 2020
By noelkelman

What’s Ahead For Mortgage Rates This Week -March 17th, 2020

Financial Reports, ,
Last week’s scheduled economic reports included readings on inflation and consumer sentiment. Weekly readings on mortgage rates and new jobless claims were also released. Inflation Holds Steady in February The Consumer Price Index rose 0.10 percent in February and matched January’s reading. Analysts expected no inflationary growth for February and noted that the Coronavirus had not yet impacted national inflation. Higher rents and grocery prices caused inflation to rise in February. Year-over-year, the Consumer Price Index rose 2.30 percent in February after posting its highest reading of 2.50 percent in January; analysts expect inflation to decrease in the coming months.…
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