Financial Reports , ,

What’s Ahead For Mortgage Rates This Week – May 3, 2021

Last week’s economic reporting included readings from Case-Shiller Home Price Indices, data on pending home sales, and a statement from the Fed’s Federal Open Market Committee. The University of Michigan released its Consumer Sentiment Index and weekly reports on mortgage rates and jobless claims were also published. Case-Shiller: February Home Prices Rose at Fastest Pace Since 2006 National home prices rose at a seasonally adjusted annual pace of 12.00 percent, which was the fastest pace of year-over-year home price growth in 15 years.  Case-Shiller’s 20-City Home Price Index reported 11.90 percent home price growth year-over-year and 1.20 percent growth month-to-month.…
Read More
Financial Reports , ,

What’s Ahead For Mortgage Rates This Week – April 26, 2021

Last week’s scheduled economic news included readings on sales of new and previously-owned homes and weekly reports on jobless claims and mortgage rates. March Sales of  Previously-owned Homes Dip; New Home Sales Rise Sales of single-family homes fell in March as demand for homes exceeded availability. 6.01 million previously-owned homes were sold in March on a seasonally-adjusted annual basis; analysts expected a pace of 6.11 million sales based on February’s reading of 6.24 million sales of existing homes. The March reading for sales of pre-owned homes was 3.70 percent lower year-over-year and was the lowest sales pace reported since August…
Read More
Financial Reports , ,

What’s Ahead For Mortgage Rates This Week – April 19, 2021

Last week’s economic news included readings from the National Association of Home Builders on housing markets along with Commerce Department readings on housing starts and building permits issued.  Fed Chair Jerome Powell appeared on 60 Minutes. Weekly readings on mortgage rates and jobless claims were also released. NAHB: Homebuilder Confidence Ticks Up The National Association of Home Builders reported that home builders’ confidence in housing market conditions rose one point to an index reading of 83. Builder confidence readings over 50 indicate that most builders consider housing market conditions as positive. Component readings used for the NAHB Housing Market Index…
Read More
Financial Reports , ,

Case-Shiller: Phoenix Home Prices Hot, Hotter, and Hottest

The S&P Case-Shiller National Home Price Index posted its highest gain in nearly 15 years with a year-over-year home price growth rate of 11.20 percent in January. The December 2020  National Home Price Index reported 10.40 percent home price growth. The S&P Case-Shiller 20-City Home Price Index reported 11.10 percent year-over-year growth with 19 of 20 cities reporting higher home prices. Cleveland, Ohio was the only city reporting no home price growth in January. Detroit, Michigan reported home price growth data for the first time in nearly a year. Phoenix, Seattle, and San Diego Home Prices are Hot, Hotter, and…
Read More
Financial Reports , ,

What’s Ahead For Mortgage Rates This Week – March 15, 2021

Last week’s economic reporting included data on inflation and job openings, and weekly readings n mortgage rates, and jobless claims. Inflation Rate Rises in February Consumer prices grew by 0.40 percent in February according to the federal government’s Consumer Price Index; the year-over-year inflation rate rose from January’s reading of 1.40 percent to 1.70 percent. Consumer prices rose at their fastest pace in six months as rising fuel prices caused the jump in consumer prices. The Core Consumer Price Index, which does not include volatile food and fuel sectors, rose by 0.10 percent in February and matched analysts’ expectations. Analysts…
Read More