What’s Ahead For Mortgage Rates This Week – May 4th, 2020

Financial Reports , ,
Last week’s economic reports included readings from Case-Shiller Housing Market Indices, pending home sales, and inflation. Weekly readings on mortgage rates and first-time jobless claims were also released. Case-Shiller: February Home Price Data Positive Before Coronavirus Impact February data on home prices showed rising home prices; the Case-Shiller National Home Price Index showed 4.20 percent growth in home prices year-over-year as compared to January’s home price growth rate of 3.90 percent. Case-Shiller’s 20-City Home Price Index rose by 0.40 percent from a year-over-year rate of  3.10 percent to 3.50 percent. Home prices increased in all of the 20 cities included…
Read More

What’s Ahead For Mortgage Rates This Week – April 27th, 2020

Financial Reports , ,
Last week’s scheduled economic news included readings on sales of new and previously-owned homes and consumer confidence. Weekly readings on mortgage rates and new jobless claims were also released. COVID-19 Requirements Impact Home Sales Widespread state and local requirements for sheltering at home negatively impacted home sales in March. New homes sold at an annual pace of 627,000 sales as compared to 741,000 sales reported in February. Analysts estimated 628,000 sales for March according to the Commerce Department. The National Association of Realtors® reported lower sales of previously-owned homes in March with an annual pace of 5.27 million sales. February’s…
Read More

What’s Ahead For Mortgage Rates This Week – April 20th, 2020

Financial Reports , ,
Last week’s scheduled economic reporting included readings on home builder sentiment, housing starts and building permits issued. Weekly reports on mortgage rates and initial jobless claims were also released NAHB: Homebuilder Confidence Crashes as Coronavirus Impacts Construction Homebuilder sentiment concerning housing market conditions dropped significantly in April according to the National Association of Home Builders Housing Market Index. April’s index reading of 30 was the largest month-to-month drop recorded since the Housing Market Index started 30 years ago. Homebuilder confidence was 42 points lower than the March reading of 72 and was the lowest reading since June 2012. Index readings…
Read More

What’s Ahead For Mortgage Rates This Week – April 13th, 2020

Financial Reports , ,
Last week’s economic reports were limited due to closures connected with coronavirus regulations. The Federal Reserve did not issue minutes for the most recent Federal Open Market Committee meeting as the meeting was canceled. Inflation readings were released; weekly readings on mortgage rates and new jobless claims were released along with the University of Michigan’s Consumer Sentiment Index. Consumer Price Index Falls In March The Consumer Price Index dropped by -0.40 percent in March; this was its biggest decline in five years. Lower inflation was largely due to falling fuel prices. The Core Consumer Price Index, which excludes volatile food…
Read More

What’s Ahead For Mortgage Rates This Week – April 6th, 2020

Financial Reports , ,
Last week’s economic reporting included readings on pending home sales, Case-Shiller Home Price Indices, and Bureau of Labor Statistics reports on national unemployment. Weekly readings on mortgage rates and first-time jobless claims were also released. Pending Home Sales Slow in February Before Coronavirus Took Hold The National Association of Realtors® reported fewer pending home sales in February as the coronavirus gained traction. Pending sales rose by 2.40 percent in February as compared to January’s growth rate of 5.30 percent. Before the outbreak, pending home sales gained momentum in all U.S. regions. Pending home sales are sales for which signed purchase…
Read More

What’s Ahead For Mortgage Rates This Week – March 30th, 2020

Financial Reports , ,
Scheduled monthly readings were released for new home sales and consumer sentiment. Weekly readings on mortgage rates and new jobless claims were also released. New Home Sales Beat Expectations in February Sales of new homes dropped 4.40 percent in February after reaching a 13-year high in January. 765,000 new homes were sold on a seasonally-adjusted annual basis, which exceeded expectations of 750,000 sales in February. New home sales were 14.30 percent higher year-over-year. Analysts said that further declines monthly new home sales are expected as the coronavirus spreads. The national median price for a new home was $345,900 and there…
Read More

Case-Shiller: July Home Prices Cool Across U.S.

Market Outlook , ,
The stifling heat of July did not penetrate U.S. housing markets according to the S&P Case-Shiller 10-and 20 City Home Price Index reports. San Francisco's sizzling home prices dropped in July and posted its lowest price gains since 2012. According to the Case-Shiller 10 and 20-City Home Price Index reports, month-to-month home price appreciation fell to identical readings of an 0.60 percent increase as compared to a 1.00 percent increase reported in June. Case-Shiller also reported that home prices grew by 0.50 percent throughout the nation. This was the seventh consecutive monthly increase for national home prices. Year-over-year, seasonally adjusted…
Read More

What’s Ahead For Mortgage Rates This Week – June 2, 2014

Mortgage Rates , , , ,
Last week's economic news was fairly quiet due to the Memorial Day holiday on Monday and no scheduled news released on Wednesday. Home Prices Post Modest Gains, But Growth Rate of Home Prices Slows Tuesday's release of the S&P Case-Shiller Home Price Index for March showed that home prices are edging up, but at a slower pace than last year. Home prices increased by 12.40 percent year-over-year as compared to February's reading of 12.90 percent year-over-year. Analysts expected prices to fall as construction picks up and more homes are listed for sale. Lower demand due to strict mortgage lending standards…
Read More

What’s Ahead For Mortgage Rates This Week – May 19, 2014

Mortgage Rates , ,
Last week's economic news was relatively flat, but highlights include the NAHB Housing Market Index for May, which posted its lowest reading since May 2013. Although analysts expected a May reading of 48, the May 2014 index reading was 45 as compared to April's reading of 46. The NAHB reported that rising home prices and unpredictable job markets were factors in builders' loss of confidence. Although the economy is growing stronger, many would-be homebuyers remain skeptical of economic conditions and remain on the sidelines. NAHB: Stronger Builder Confidence Expected in Coming Months Builder confidence in market conditions for single family…
Read More