What’s Ahead For Mortgage Rates This Week – May 20th, 2019

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Last week's economic reports included readings from the National Association of Home Builders on housing market conditions, housing starts and building permits issued. Consumer sentiment was reported along with weekly readings on mortgage rates and new jobless claims. NAHB: Builder Confidence Rises in May, Housing Starts Increase in April The National Association of Home Builders Housing Market Index posted its highest reading in seven months in May as headwinds facing home construction waned. Lower mortgage rates were a positive sign. May's reading rose three points to 66; component readings also rose. The index of builder confidence in current housing market conditions…
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What’s Ahead For Mortgage Rates This Week – May 13th, 2019

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Last week's economic news included readings on job openings and inflation. Weekly reports on mortgage rates and first-time jobless claims were also released. April Inflation Falls Short of Expectations The Consumer Price Index for April fell by 0.10 percent to 0.30 percent. Analysts expected a reading of 0.40 percent, which hatched the March reading. The Core Consumer Price Index excludes volatile food and fuel sectors; core inflation grew by 0.10 percent in April, which matched the March reading and fell short of the expected growth rate of 0.20 percent. The Federal Reserve has set an annual inflation rate of 2.00…
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What’s Ahead For Mortgage Rates This Week – May 6th, 2019

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Last week's economic news brought good news to U.S. consumers on several fronts. Mortgage rates fell and national unemployment fell to its lowest rate in 50 years. Inflation slowed and the Federal Reserve held its target federal funds rate steady. Freddie Mac analysts credited strong labor markets, high consumer confidence and falling mortgage rates as factors setting the stage for more home sales. Pending Home Sales Rise as Construction Spending Falls The National Association of Realtors® reported higher pending home sales in March; home sales under contract but not completed rose 3.89 percent in March as compared to February's negative…
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What’s Ahead For Mortgage Rates This Week – April 29th, 2019

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Last week's economic reporting included readings on sales of new and pre-owned homes; weekly reports on mortgage rates and new jobless claims were also released along with a report on consumer sentiment. Sales of New Homes Hit 16-Month High The Commerce Department reported that deep discounts offered by home builders boosted sales of new single-family homes to 692,000 sales on a seasonally-adjusted annual basis. March sales exceeded February's reading by 4.50 percent and exceeded the expected sales pace of 656,000 sales. The average price of new single family homes fell to $302,700 in March; this was 9.70 percent lower year-over-year.…
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What’s Ahead For Mortgage Rates This Week – April 22nd, 2019

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Last week's economic news included readings on home builder confidence in housing market conditions and Commerce Department reports on housing starts and building permits issued. Weekly readings on mortgage ratees and first-time jobless claims were also released. NAHB Housing Market Index: Builder Confidence Rises One Point in April Home Builder Confidence readings posted by the National Association of Home Builders held steady for April and rose one point overall. Component readings for the NAHB Housing Market Index were mixed; builder confidence in current housing market conditions rose one point to an index reading of 69, but builder confidence in housing…
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What’s Ahead For Mortgage Rates This Week – April 14th, 2019

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Last week's economic readings included reports on inflation, mortgage rates, and first-time jobless claims. Monthly reporting on consumer sentiment was delayed. Consumer Price Index: Inflation Rises in March The Consumer Price Index rose 0.40 percent in March, which matched expectations and surpassed February's month-to -month reading of 0.20 percent growth. The March reading showed the highest consumer price growth in 14 months; higher rents, fuel and food prices contributed to month-to-month price gains in March. The Core CPI excludes volatile food and energy sectors and was unchanged in March although 0.20 percent growth was expected. February's reading showed 0.10 percent…
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What’s Ahead For Mortgage Rates This Week – April 1st, 2019

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Last week's economic reports included readings from Case-Shiller on home price growth, Commerce Department readings on housing starts and building permits issued. The Conference Board issued its monthly reading on consumer confidence. Pending home sales and weekly reports on mortgage rates and first-time jobless claims were also released. Case-Shiller Home Price Indices: Price Growth Slows in January S&P Case-Shiller Indices reported the slowest rate of home price growth in six years. January readings suggested that home price growth slowed due to easing demand. Affordability concerns sidelined buyers; participation of first-time home buyers remained lower than average. Case-Shiller's 20-City Home Price…
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What Causes Mortgage Interest Rates To Fluctuate?

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The mortgage interest rate represents the cost of borrowing money to purchase a property. Mortgage interest rates are not fixed; that is, they fluctuate from one period of time to the next. Many different factors play into what your mortgage interest rate will finally turn out to be. Some of these factors have to deal with the economy and government decisions. Other factors have to do with your personal financial situation. Finally, mortgage interest rates can differ between lending institutions, which is why you may get different mortgage interest rate quotes from different places. Economic Factors That Cause Mortgage Interest…
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What’s Ahead For Mortgage Rates This Week – March 25th, 2019

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Last week's economic news included readings from the National Association of Home Builders, Federal Reserve Federal Open Market Committee and a press conference by Fed Chair Jerome Powell. Sales of pre-owned homes in February were reported along with weekly readings on mortgage rates and new jobless claims. NAHB: Builder Confidence Unchanged Despite Headwinds Home builders remained confident about housing market conditions in March. The NAHB Housing Market Index posted a reading of 62, which matched February's reading and fell one point short of expectations. NAHB Index readings above 50 represent a positive outlook on housing market conditions. Home builders continued…
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What’s Ahead For Mortgage Rates This Week – March 18th, 2019

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Last week’s economic reports included readings on retail sales, inflation and construction spending. New home sales Consumer sentiment readings were posted along with weekly readings on mortgage rates and first-time jobless claims. Retail Sales Increase after Lowest Reading in 10 Years Retail sales rose by 0.20 percent in January; analysts expected an increase of 0.10 percent based on December’s negative revised reading of -1.60 percent. Home centers and internet retailers led in overall sales; retail sales without the automotive sector were higher with an 0.90 percent increase in January, which exceeded expectations of an 0.40 percent increase. December had a…
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