Case-Shiller: Home Price Growth Slows in May

Mortgage Rates , ,
According to the S&P Case-Shiller 20-City Home Price Index, home price growth in May dropped to a seasonally adjusted annual rate of 5.20 percent as compared to April's reading of 5.40 percent. Analysts said that low mortgage rates continue to support housing markets, but also noted that affordability due to rising home prices is sidelining some would-be buyers. High demand for homes coupled with slim supplies of available homes have driven prices up for months; analysts said that "tentative signs" of slower gains in home prices were seen. New Home Sales Hit Highest Level Since 2008 David M. Blitzer, Chairman…
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What’s Ahead For Mortgage Rates This Week – May 31, 2016

Mortgage Rates , ,
Last week's economic reports included new home sales, pending home sales along with weekly mortgage rates and new jobless claims. New Home Sales Surpass Expectations Sales of new homes surpassed expectations and the prior month's reading. April's reading of 619,000 sales exceeded expectations of 523,000 new homes sold and 531,000 new homes sold in March.  New home sales rose by 16.60 percent on a seasonally adjusted annual basis, which was the highest increase in 24 years.  Analysts said that April's new home sales indicate that builders are increasing production of new homes to meet high demand for homes. Short inventories…
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What’s Ahead For Mortgage Rates This Week – December 28, 2015

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This week's report of economic events is shortened due to the Christmas holiday. Economic news through Wednesday included Existing Home Sales, New Home Sales and Consumer Spending. The details: Existing Home Sales Dip, New Home Sales Rise According to the National Association of Realtors®, sales of previously owned homes dipped from October's seasonally adjusted annual rate of 5.32 million sales to 4.76 million sales of pre-owned homes. This was considerably lower than analysts' expectations of 5.30 million sales. Factors seen as contributing to November's reading included pent-up demand caused by low inventories of available homes and affordability issues emerging as…
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What’s Ahead For Mortgage Rates This Week – September 28, 2015

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Last week's scheduled economic news included reports on new and existing home sales, the FHFA House Price Index, weekly reports on mortgage rates, and new jobless claims. The week finished with a report on consumer sentiment.Existing Home Sales Fall as New Homes Sales and Home Prices RiseThe National Association of Realtors reported that home sales for pre-owned homes fell in August. Analysts expected sales of existing homes to reach a reading of 5.52 million sales on an annual basis, but the actual reading was 5.31 million existing homes sold as compared to July's reading of 5.58 million pre-owned homes sold.…
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What’s Ahead For Mortgage Rates This Week – March 30, 2015

Market Outlook , ,
Last week's economic reports included reports on new and existing home sales and FHFA's monthly home price index for properties associated with Fannie Mae and Freddie Mac mortgages. The details: New Home Sales Surge, Existing Home Sales Drop  According to the Department of Commerce, new home sales rose in January to a seasonally-adjusted annual rate of 539,000 which exceeded the expected rate of 455,000 sales and the revised figure of 500,000 sales of new homes in December 2014. This was a 7.80 percent increase over December's figure and was the first time since 2008 that new home sales met or…
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DOC New Home Sales and NAR Existing Home Sales

Housing Market , , ,
The Department of Commerce reported July sales of new homes dropped by 2.40 percent over June to a four month low. Analysts noted that although July's reading of 412,000 new homes sold fell short of expectations and June's reading, the new homes sector is volatile and subject to change. June's reading of 406,000 new homes sold was revised to 422,000 new homes sold; expectations were based on the original reading. Three of four regions posted a slower rate of growth for home prices with only the South posting a gain. The average price of a new home in the U.S.…
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What’s Ahead For Mortgage Rates This Week – March 3, 2014

Mortgage Rates , ,
Last week's economic news was mixed, with new home sales increasing and weekly jobless claims higher than expected. Case-Shiller and FHFA home price reports reflected slower growth in home prices. Mortgage rates moved higher for the third consecutive week. Weakness in the jobs sector and harsh winter weather were seen as factors contributing to economic events, but sales of new homes jumped unexpectedly to their highest since 2008. Case-Shiller, FHFA Report Slower Growth for Home Prices The Case-Shiller composite home price index for December reported that home prices declined by 0.10 percent in December, which was the second consecutive monthly…
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