What’s Ahead For Mortgage Rates This Week – January 4, 2021

Financial Reports , ,
Last week’s economic news included reports from Case-Shiller Home Price Indices and data on pending home sales. No weekly data on jobless claims were released due to the New Year holiday, but Freddie Mac did issue its weekly report on average mortgage rates. Case-Shiller Reports Home Prices Reached 6-Year High In October U.S. home prices reached their highest level in six years according to Case-Shiller’s National Home Price Index. Home prices rose by 8.40 percent year-over-year in October as compared to September’s home price growth reading of 7.00 percent. Demand for homes rose during the Covid pandemic as families moved…
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What’s Ahead For Mortgage Rates This Week – August 24, 2020

Financial Reports , , ,
Last week’s economic news included readings from Case-Shiller on home prices, the National Association of Home Builders Housing Market Indices, and sales of previously-owned homes. Readings on housing starts and building permits issued were released. Weekly reports on mortgage rates, new and continuing jobless claims were also published. NAHB: Home Builder Confidence Rises in August The National Association of Home Builders reported that builder confidence in housing market conditions rose six points to an index reading of 78.in August. The expected reading of 73 was based on July’s reading of 72. Homebuilder confidence was based on sharp demand for homes…
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What’s Ahead For Mortgage Rates This Week – April 25, 2016

Mortgage Rates , , ,
Last week's economic releases included Existing Home Sales, Commerce Department Releases on Housing Starts and Building Permits and the National Association of Home Builders/Wells Fargo Housing Market Index. Mortgage rates and new jobless claims were released according to their weekly schedule. Home Builder Confidence Holds Firm in April According to April's National Association of Home Builders/Wells Fargo Housing Market Index, home builder confidence held steady with a reading of 58 for the third consecutive month. Analysts viewed April's reading as a sign of steady expansion for home building, but builders noted concerns over labor shortages. NAHB Chief Economist Robert Dietz…
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What’s Ahead For Mortgage Rates This Week – Feburary 8, 2016

Market Outlook , ,
Last week's scheduled economic news included reports on construction spending and several labor-related reports along with weekly reports on mortgage rates and new jobless claims. The details: Construction Spending Higher in December U.S. construction spending rose by 0.10 percent in December for a seasonally adjusted annual total of $1.12 trillion. The Commerce Department reported that construction firms spent 10.5 percent more than in 2014.Residential construction spending totaled $416.8 billion for 2015, which was 12.60 percent higher than in 2015. Higher construction spending can be a double-edged sword, as it can indicate that builders are stepping up construction or that they…
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What’s Ahead For Mortgage Rates This Week – Feburary 1, 2016

Market Outlook , , ,
Last week's economic events included S&P Case-Shiller's home price indexes, reports on new and pending home sales and the Fed's FOMC statement. The details: Case-Shiller Reports Fast Paced Home Price Growth According to S&P Case-Shiller Home Price Indexes, U.S. home prices grew at their fastest pace in 16 months in November. Portland, Oregon led the charge with home prices increasing 11.10 percent year-over-year followed by San Francisco, California at 11.0 percent; Denver, Colorado posted a year-over-year gain of 10.90 percent. 14 cities posted home price gains while four cities posted declines in home prices and two cities posted no change…
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What’s Ahead For Mortgage Rates This Week – January 25, 2016

Market Outlook , , ,
Last week's scheduled economic news included releases from the National Association of Home Builders, Housing Starts, and Existing Home Sales. Weekly reports on new jobless claims and mortgage rates were also released.  The National Association of Realtors® reported that sales of previously owned homes rose to 5.46 million sales on an annual seasonally adjusted basis in December. This reading surpassed expectations of 5.21 million sales and November's reading of 4.76 million sales. November's low reading was in part affected by new mortgage rules, which delayed some closings into December. Economic factors pushing housing markets include low driven by falling fuel…
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What’s Ahead For Mortgage Rates This Week – January 18, 2016

Market Outlook , , ,
In addition to weekly reports on mortgage rates and new unemployment claims, last week's economic news included the Fed's Beige Book report, retail sales and consumer sentiment. January's Empire State Index showed an unexpected dip and Consumer Sentiment increased for January. Fed's Beige Book Shows Diverse Economic Trends According to the Federal Reserve's Beige Book report for January, the central bank's business contacts reported strength in housing, while agriculture, energy and manufacturing sectors were struggling. New York's Empire State Manufacturing Index for January supported this trend with a sharp drop. New York manufacturing has hit its lowest level since the…
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What’s Ahead For Mortgage Rates This Week – January 11, 2016

Market Outlook , , ,
The first week of 2016 was quiet concerning housing and mortgage related news, but reports on construction spending and several labor-related reports were released. Construction spending is connected to housing markets as it provides evidence of builder confidence and also future housing supply. Labor market trends provide a sense of economic performance in general and can influence potential buyers on decisions about buying or not buying homes. Construction Spending Dips in November According to the Commerce Department, construction spending dropped by 0.40 percent in November to a seasonally adjusted annual reading of $1.12 trillion. November's reading was short of the…
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What’s Ahead For Mortgage Rates This Week – January 04, 2016

Market Outlook , ,
2015 said farewell with reports on Case Shiller home prices, pending home sales, and consumer confidence. The details: Case-Shiller Home Prices Post Double Digit Gains in October According to Case-Shiller's 20 City Home Price Index, Denver, Colorado, Portland, Oregon and San Francisco, California tied for the highest home price gains in October with year-over-year home price gains of 10.90 percent. Lowest annual price gains were posted by Chicago, Illinois at 1.30 percent followed by Washington, D.C with a year-over-year –reading of 1.70 percent. Home prices rose at their fastest rate since August 2014 according to Case-Shiller. Month-to-month home prices showed…
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What’s Ahead For Mortgage Rates This Week – December 14, 2015

Market Outlook , ,
Last week's scheduled economic releases included reports on job openings, retail sales and consumer confidence in addition to usual weekly releases on mortgage rates and new jobless claims. The details: According to the U.S. Labor Department, job openings were down 2.70 percent in October to a reading of 5.38 million as compared to September's reading of 5.50 million job openings and the all-time high reading of 5.67 million job openings in July. October's reading was the third highest since the recession ended in 2009. Analysts said that a gap between job skills sought by employers and job skills applicants bring…
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