08
May
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – May 8, 2023

Last week’s economic news included reporting on construction spending, the Federal Reserve’s decision to raise its benchmark interest rate, and weekly readings on mortgage rates and jobless claims. Construction Spending Increases in March The Commerce Department reported that month-to-month construction spending rose by 0.30 percent and year-over-year construction spending increased by $1.83 trillion. Residential construction fell by -0.20 percent in March, which was the tenth consecutive monthly decline in residential construction spending. Non-residential construction spending rose by 0.70 percent in March for the ninth gain in the past 10 months. Fed Raises Key Interest Rate Range Federal Reserve policymakers raised…
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01
May
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – May 1, 2023

Last week’s economic reporting included readings on home prices, sales of new homes, and pending home sales. Monthly and year-over-year readings for inflation were published along with weekly reports on mortgage rates and jobless claims. February S&P Case-Shiller Housing Market Indices show slower home price growth National home prices continued to rise in February, but at a slower pace according to S&P Case-Shiller home price indices. Month-to-month home prices rose by  0.40 percent in February and matched analysts’ expectations, but were lower than January’s reading of  2.50 percent home price growth. S&P Case-Shiller’s 20-city home price index, which is frequently…
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17
Apr
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – April 17, 2022

Last week’s economic reporting included readings on inflation, retail sales, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. March Inflation Slows as Retail Sales Fall Inflation slowed to a month-to-month pace of 0.10 percent in March as compared to February’s reading of 0.40 percent growth. Year-over-year inflation rose by 5.00 percent and fell short of analysts’ expected reading of 5.10 percent year-over-year inflation and February’s year-over-year inflation rate of 6.00 percent. Core inflation, which excludes volatile readings for food and fuel, rose by 0.40 percent in March and matched analysts’ expectations.  The year-over-year reading…
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10
Apr
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – April 10, 2023

Last week's economic reporting included readings on construction spending and labor sector readings on employment and the national unemployment rate for March. Weekly readings on mortgage rates and jobless claims were also released. Commerce Department: February Construction Spending Falls The U.S. Commerce Department reported less construction spending in February than in January as construction spending fell by 0.10 percent to a year-over-year reading of $1.844 trillion for all types of construction. Year-over-year construction spending increased by 5.20 percent.  While total construction spending fell in February, residential construction spending increased. Spending on single-family home construction slowed due to builders’ concerns over…
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03
Apr
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – April 3, 2023

Last week’s economic reporting included readings on home prices, inflation, and pending home sales. Weekly readings on mortgage rates and jobless claims were also published. S&P Case-Shiller Home Price Indices Report Slower Home Price Growth in January Home price growth cooled in January according to S&P Case-Shiller’s 20-City Home Price Index. Home prices increased by 2.50 percent year-over-year in January but rose at a slower pace than December’s reading of 4.60 percent. The FHFA Home Price Index also showed slower growth in January with year-over-year home price growth of  5.30 percent as compared to December’s home price growth rate of…
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