Mortgage Rates

Last week’s scheduled economic news included readings from the National Association of Home Builders on housing market conditions. Reporting on housing starts and building permits was released along with weekly reports on mortgage rates and jobless claims. NAHB: Home Builder Confidence Grows as Demand for Homes Increases November’s national reading for home builder confidence in housing market conditions for single-family homes rose three points to an index reading of 83 and the expected reading of 80. Component readings for the national index were mixed. Builder confidence in home sales for the next six months was unchanged at an index reading…

Last week’s scheduled economic reporting included readings on inflation and a preliminary report on consumer sentiment. Weekly reports on mortgage rates and jobless claims were also released. Inflationary Growth Exceeds Expectations, Creates Consumer Challenges October’s inflation rate rose to its highest year-over-year pace in 31 years last week with a reading of 6.20 percent growth as compared to September's year-over-year growth rate of 5.40 percent. Inflation rose by 0.90 percent month-to-month in October as compared to September’s reading of 0.40 percent growth. Consumers paid more for essential goods including food, fuel, and transportation. October’s inflationary growth rate surpassed the Federal…

Last week’s economic reporting included the National Association of Home Builders’ Housing Market Index reports on building permits issued and housing starts, The National Association of Realtors® reported on sales of previously owned homes, and weekly readings on mortgage rates and jobless claims were also published. NAHB: Builder Confidence Improves in September The National Association of Home Builders reported an index reading of 80 for its September Housing Market Index. Analysts expected September’s index reading to match August’s reading of 76. Builders continued to face supply chain challenges and labor shortages amid growing concerns over rising home prices and affordability…

Last week’s scheduled economic news included readings on public and private-sector jobs and the national unemployment rate. Weekly readings on mortgage rates and jobless claims were also published. Non-Farm Payrolls: Jobs Growth Dips Sharply in September U.S. jobs growth dipped sharply in September according to the federal government’s Non-Farm Payrolls report. 194,000 public and private sector jobs were added and fell far short of the expected reading of 500,000 jobs added. 366,000 public and private sector jobs were added in August. Hiring lagged as continuing concerns over Covid kept workers at home. Less hiring at public schools reduced September’s jobs…

Last week’s economic news included reporting on housing markets, housing starts, and building permits issued. Data on new and existing home sales were published along with weekly reports on mortgage rates and jobless claims. NAHB: Builder Confidence Ticks Up as Demand for Homes Holds Steady The National Association of Home Builders reported a one-point gain in its Housing Market Index for September with an index reading of 76. Analysts expected no change based on August’s reading of 75. Component readings for the HMI were mixed; the index reading for builder confidence in current market conditions rose one point to 82.…

Last week’s economic reporting was limited due to the Labor Day holiday. Job openings were reported along with weekly readings on mortgage rates and jobless claims. July Job Openings Higher Than Expected The Labor Department reported record job openings for the fifth consecutive month in July. Economists said that the data used in the report lagged by a month and the readings were not impacted by the Delta variant of the Covid-19 virus. Job openings fell in construction, trade, transportation, and utilities. There were less than 0.80 unemployed available for each job opening in July. Hiring fell by 160,000 hires…