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…
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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…
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18 Jun 2021
By noelkelman

FOMC Statement: Fed Predicts 2 Interest Rate Hikes in 2023

Financial Reports, ,
The Federal Open Market Committee of the Federal Reserve said in its post-meeting statement that the Federal Reserve expects to raise its benchmark interest rate range twice during 2023. No rate changes will be made during 2022 as the economy continues to recover from the Covid-19 pandemic. The Fed’s current interest rate range is 0.00 to 0.25 percent. Fed Expects "Transitory" Inflation The Fed's post-meeting FOMC statement said that although Committee members adjusted their forecast for raising the Fed's benchmark interest rate range, members did not predict long-term inflation and described current upward inflation as "transitory." The Consumer Price Index reported…
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17 May 2021
By noelkelman

What’s Ahead For Mortgage Rates This Week – May 17, 2021

Financial Reports, ,
Last week’s economic reports included readings on inflation, core inflation, and the University of Michigan’s  Consumer Sentiment Index. Weekly readings on mortgage rates and jobless claims were also released. April Inflation Rate Hits 13-Year High The federal government’s Consumer Price Index rose by 0.80 percent in April as compared to the March reading of 0.60 percent. Analysts expected inflation to increase by 0.20 percent in April. Core inflation, which excludes volatile food and fuel sectors, rose by 0.90 percent in April. Analysts expected core inflation to grow by 0.30 percent in April which would have been unchanged from the March…
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15 Mar 2021
By noelkelman

What’s Ahead For Mortgage Rates This Week – March 15, 2021

Financial Reports, ,
Last week’s economic reporting included data on inflation and job openings, and weekly readings n mortgage rates, and jobless claims. Inflation Rate Rises in February Consumer prices grew by 0.40 percent in February according to the federal government’s Consumer Price Index; the year-over-year inflation rate rose from January’s reading of 1.40 percent to 1.70 percent. Consumer prices rose at their fastest pace in six months as rising fuel prices caused the jump in consumer prices. The Core Consumer Price Index, which does not include volatile food and fuel sectors, rose by 0.10 percent in February and matched analysts’ expectations. Analysts…
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19 Jan 2021
By noelkelman

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

Financial Reports, ,
Last week’s economic reports included readings on inflation, retail sales, and a speech by Federal Reserve Chair Jerome Powell. Weekly readings on mortgage rates and jobless claims were also released.  Inflation Rises as Retail Sales Fall, Fed  Says Current Monetary Policy Won’t Change The Consumer Price Index rose to 0.40 percent in December as compared to November’s reading of 0.20 percent. The CPI measures inflation and the Core CPI measures inflation without the volatile sectors of food and fuel. December’s Core CPI reading fell to a rate of 0.10 percent growth from November’s reading of 0.20 percent. Retail sales were…
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19 Oct 2020
By noelkelman

What’s Ahead For Mortgage Rates This Week – October 19, 2020

Financial Reports, ,
Last week’s economic reporting included readings on inflation, retail sales, and consumer sentiment. Weekly readings on average mortgage rates and jobless claims were also released. Inflation Rate Slows as Retail Sales Increase Inflation rose 0.20 percent in September, which was the slowest growth rate in four months. Analysts credited the rise in consumer prices to less post-pandemic price shock as consumers adjusted to higher prices for goods. Consumer prices were boosted by used vehicle prices, which increased at their highest pace in 51 years. Core consumer prices, which exclude volatile food and fuel sectors, also rose by 0.20 percent in…
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17 Aug 2020
By noelkelman

What’s Ahead For Mortgage Rates This Week – August 17, 2020

Financial Reports, ,
  Last week’s scheduled economic news included readings on inflation and retail sales. Weekly reports on mortgage rates and new and continuing jobless claims were also released. In other news, the FHFA announced an increase in fees charged by Fannie Mae and Freddie Mac for home loan refinance transactions. Inflation Readings Mixed as Retail Sales Fall Consumer prices rose by 0.60 percent in July and matched June’s reading. Analysts expected a July reading of 0.40 percent growth. The Core Consumer Price Index, which excludes volatile food and energy sectors, rose by 0.60 percent in July and exceeded June’s reading of…
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