Federal Reserve policymakers held the federal funds rate at its current range of 2.25 to 2.50 percent. Analysts speculated that the Fed may lower its key rate based on signs of slowing economic growth and the President's encouragement to lower the Fed rate. Federal Open Market Committee members cited "uncertainties" in support of their decision not to change the Fed's key lending rate. A stiff month-to-month drop in jobs growth and worries over trade problems associated with recent tariffs … [Read more...]
What’s Ahead For Mortgage Rates This Week – June 24th, 2019
Last week's economic reports included monthly readings on housing market conditions, housing starts and building permits issued. Sales of pre-owned homes were released; the Federal Reserve announced its decision not to raise its key interest rate range. Weekly reports on mortgage rates and new jobless claims were also released. NAHB: Home Builder Confidence Slips in June The National Association of Home Builders Housing Market Index for June showed builder confidence was two points lower at an … [Read more...]
What’s Ahead For Mortgage Rates This Week – June 10th, 2019
Last week's economic releases included readings on construction spending, public and private sector jobs and national unemployment. Weekly reports on mortgage rates and first-time unemployment claims were also released. Construction Spending Little Changed in April Census Bureau readings for April showed a minor dip in construction spending as compared to revised figures for March. $1,295.5 billion was spent on a seasonally-adjusted annual basis and missed the expected reading of $1,314.7 … [Read more...]
What’s Ahead For Mortgage Rates This Week – June 3rd, 2019
Last week's economic news included readings from Case-Shiller on home prices and pending home sales. Readings on consumer confidence and weekly reports on mortgage rates and new jobless claims were also released. Case-Shiller: Home Price Growth Slows in March While home prices continue to rise throughout the U.S., they are growing at a slower pace. Case-Shiller reported that Home prices dropped 0.20 percent in March to a growth rate of 3.70 percent on a seasonally-adjusted annual basis. … [Read more...]
What’s Ahead For Mortgage Rates This Week – May 28th, 2019
Last week's economic news included readings on sales of new and pre-owned homes; weekly readings on mortgage rates and first-time jobless claims were also released. Sales of New and Pre-Owned Homes Lower in April Sales of brand-new homes fell nearly seven percent in April according to Commerce Department reports. Analysts noted that March sales of new homes were revised upward, which contributed to the difference between March and April readings. 673,000 new homes were sold in April on a … [Read more...]
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