27
Jun
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – June 27, 2022

Last week’s economic reporting included readings on home sales, Fed Chair Jerome Powell’s testimony on monetary policy to the House Financial Services Committee, and the University of Michigan’s Consumer Sentiment Index. Weekly reports on mortgage rates and jobless claims were also released. New Home Sales Pace Rises as Pre-Owned Homes Sales Pace Slows The Commerce Department reported a seasonally-adjusted annual pace of 696,000 new homes sold in May; analysts predicted a year-over-year pace of 587,000 new homes sold as compared to April’s year-over-year pace of 629,000  new homes sold. While the year-over-year pace of new home sales increased by 10.70…
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13
Jun
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – June 13, 2022

Last week’s economic reporting was highly focused on inflation, which grew at its fastest pace since 1981. Rising fuel and food prices boosted inflation in the U.S. and abroad; Analysts said the Ukraine War and supply chain problems continued to drive inflation. Weekly readings on mortgage rates and jobless claims were also released. Inflation Hits Highest Level in 41 Years The government’s Consumer Price Index, which tracks inflation, rose at a month-to-month pace of 1.0 percent in May compared to the expected reading of 0.70 percent and April’s reading of 0.30 percent growth. May’s Core Consumer Price Index, which excludes…
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13
Jun
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – June 13, 2022

Last week’s economic reporting was highly focused on inflation, which grew at its fastest pace since 1981. Rising fuel and food prices boosted inflation in the U.S. and abroad; Analysts said the Ukraine War and supply chain problems continued to drive inflation. Weekly readings on mortgage rates and jobless claims were also released. Inflation Hits Highest Level in 41 Years The government’s Consumer Price Index, which tracks inflation, rose at a month-to-month pace of 1.0 percent in May compared to the expected reading of 0.70 percent and April’s reading of 0.30 percent growth. May’s Core Consumer Price Index, which excludes…
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27
Apr
By Todd Grey
Financial Reports, ,

Case-Shiller, FHFA Post New Records for Home Price Growth

S&P Case-Shiller’s National Home Price Index rose by 19.80 percent year-over-year in February and was the third-largest pace of home price growth since the National Home Price Index’s inception. The 20-City Home Price Index reported that Phoenix, Arizona held its first-place ranking with year-over-year home price growth of 32.90 percent. Tampa, Florida maintained its second-place standing with year-over-year home price growth of 32.60 percent. Miami, Florida reported year-over-year home price growth of 29.70 percent year-over-year. Home prices rose faster for all 20 cities in February than in January. Rapid Home Price Growth Expected to Slow as Rising Mortgage Rates Take…
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25
Apr
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – April 25, 2022

Last week’s economic reporting included the National Association of Home Builders Housing Market Index, government readings on housing starts and building permits, and data on sales of previously-owned homes. Weekly readings on mortgage rates and jobless claims were also released. NAHB: Builder Confidence in Housing Market Conditions Slips by Two Points Homebuilder confidence fell by two points to an index reading of 77 in April and was the lowest reading since September. Analysts expected this dip as mortgage rates and building materials costs continued to rise. Index readings over 50 indicate that most builders have positive views of housing market…
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