What’s Ahead For Mortgage Rates This Week – September 17th, 2018

Financial Reports , ,
Last week's economic news included readings on consumer credit, inflation and consumer sentiment. Weekly readings on mortgage rates and first-time jobless claims were also released. Fed Reports Consumer Credit Jumps in July The Federal Reserve reported that consumer credit rose from $9 billion in June to $17 billion in July. Analysts said a majority of consumer credit was issued for education loans and auto loans. June's reading was revised downward to $8.50 billion from the original reading of $10.2 billion. Credit card debt increased by 1.50 percent in July after declining by – 1.40 percent in June. Non-revolving consumer debt…
Read More

What’s Ahead For Mortgage Rates This Week – September 10th, 2018

Financial Reports , ,
Last week's economic news included readings on construction spending, along with public and private-sector jobs growth. The national unemployment rate, weekly reports on mortgage rates and new jobless claims were also released. Construction Spending Rises in July July construction spending ticked up to 0.10 percent from June's negative reading of -0.80 percent. Year-over-year, construction spending was 5.80 percent higher than for July 2017.Public-sector construction accounted for most of the growth and increased by 0.70 percent as private-sector construction projects decreased by -0.10 percent. Month-to-month spending readings can be volatile, but analysts said that construction spending for the first seven months…
Read More

What’s Ahead For Mortgage Rates This Week – September 4th, 2018

Financial Reports , ,
Last week's economic releases included readings from Case-Shiller on home prices, pending home sales and consumer sentiment. Weekly readings on mortgage rates and first-time jobless claims were also released. Case-Shiller: Home Price Growth, Pending Home Sales Dip Home price growth slowed in June according to Case-Shiller's national home price index. Home prices rose 0.30 percent from May and were 6.30 percent year-over-year as compared as compared to 6.40 percent. In May. Analysts have predicted stabilizing home prices for months and June's reading indicated that home prices may slow after surpassing inflation and wage growth in recent times. The 20-City Home Price…
Read More

What’s Ahead For Mortgage Rates This Week – August 27th, 2018

Financial Reports , ,
Last week's economic readings included reports on sales of new and previously-owned homes, and weekly reports on mortgage rates and first-time jobless claims. Sales of New and Pre-owned Homes Falter in July Home sales were lower in July, with new and pre-owned home sales falling short of projections and June sales. According to the Commerce Department, new homes sold at an annual rate of 627,000 sales as compared to 640,000 new home sales projected and a pace of 638,000 homes sold in June. Downward revisions for previous months contributed to a lower sales pace reported in July; but the average…
Read More

What’s Ahead For Mortgage Rates This Week – August 20th, 2018

Financial Reports , ,
Last week's economic reports included readings from the National Association of Home Builders and Commerce Department releases on Housing Starts and Building Permits issued. Weekly readings on mortgage rates and first-time jobless claims were released, along with a monthly report on consumer sentiment. NAHB: Home Builder Housing Market Index Drops 1 Point August's reading for the National Association of Home Builders Housing Market Index dropped one point to 67. This was the lowest reading for home builder confidence in housing market conditions in 11 months. Analysts said that trade wars are causing concern among builders due to higher costs for…
Read More

What’s Ahead For Mortgage Rates This Week – August 13th, 2018

Financial Reports , ,
Last week's economic reports included readings on job openings and inflation along with weekly readings on mortgage rates and new jobless claims. Job Openings Hit Third Highest Reading on Record Job openings held steady at 6.70 million in June, which was the third highest reading since reporting started in 2000. Analysts said that the high number of job openings combined with low unemployment rates indicates healthy labor markets. Fewer jobs were available in transportation, utilities and warehousing, but jobs in education increased. Job quits remained at 2.20 percent for the fourth consecutive month. Quits are considered an indicator of worker…
Read More

What’s Ahead For Mortgage Rates This Week – August 6th, 2018

Financial Reports , ,
Last week's economic reports included readings from Case-Shiller, Commerce Department reports on pending home sales and construction spending and an FOMC statement. Labor sector reports on job creation and the national unemployment rate were released along with the monthly Consumer Confidence Index. Weekly reports on mortgage rates and first-time jobless claims were also released. Case-Shiller: Home Price Growth Holds Steady in May Home price analysts Case-Shiller reported national home prices rose 0.40 percent in May and were 6.40 percent higher year-over-year. Case-Shiller's 20-City Home Price Index was 0.20 percent higher in May and 6.50 percent higher year-over-year. Only seven cities…
Read More

What’s Ahead For Mortgage Rates This Week – July 31st, 2018

Financial Reports , ,
Last week's economic readings included reports on sales of new and pre-owned homes, mortgage rates and first-time jobless claims. New Home Sales Slide; Pre-owned Home Sales Meet Expectations Commerce Department reported lower sales of new homes in June. Sales were expected to reach 666,000 sales on a seasonally adjusted annual basis, but the actual reading slipped by 5.30 percent to a pace of 631,000 new home sales. Analysts cited higher building costs, home prices and mortgage rates sidelined some buyers. Concerns over inadequate inventories of available homes also impacted sales of newly-built homes. New homes sold at a rate 6.90…
Read More

What’s Ahead For Mortgage Rates This Week – July 16th, 2018

Financial Reports , ,
Last Week's economic readings included reports on inflation, mortgage rates, new jobless claims and consumer sentiment. Inflation Slows in June The Consumer Price Index for June inched down to 0.10 percent growth in June as compared to May's reading of 0.20 percent. Core inflation, which excludes volatile food and energy prices, rose 0.20 percent, which matched expectations and May's reading of 0.20 percent. Year-over-year inflation rose by 2.90 percent. This was the highest rate of growth in six years. Inflation increased by a year-over-year rate of 1.60 percent in the prior year. While inflationary growth signals strengthening economic conditions, it…
Read More

What’s Ahead For Mortgage Rates This Week – July 9th, 2018

Financial Reports , ,
Last week's economic releases included monthly readings on construction spending, public and private sector job growth and June's national unemployment rate. Weekly readings included Freddie Mac mortgage rates and new jobless claims. Construction Spending Rises in May According to the Commerce, construction spending rose 0.40 percent in May; public sector construction spending rose 0.70 percent and private sector spending rose by 0.30 percent. Residential construction rose by o.80 percent, which analysts regarded as a good sign for the economy. Building more homes has long been identified as the only solution for persistent housing shortages that cause high demand for homes…
Read More