Unemployment Archives - Racheli Refael

11 Jan 2021

What’s Ahead For Mortgage Rates This Week – January 11, 2021

Financial Reports

Last week’s economic reports included readings on construction spending and reports on the national unemployment rate and job growth. Weekly reporting on mortgage rates and jobless claims were also published. Construction Spending Increases as Demand for Homes Rises Homebuilders responded to increased demand for single-family homes and increased their spending in November. Construction spending rose by 0.90 percent as compared to projected spending of 1.10 percent and 1.60 percent growth in November. Demand for homes increased in recent months due to the coronavirus pandemic. Homeowners left urban areas and bought larger homes in suburban and rural areas. Low mortgage rates, flight from cities, and needs related to working from home and…

03 Aug 2020

By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – August 3, 2020

Financial Reports

Last week’s economic reports included readings from Case-Shiller Home Price Indices, data on pending home sales, and the consumer sentiment index released by the University of Michigan. The Federal Reserve released a statement from its Federal Open Market Committee and Fed Chair Jerome Powell gave a press conference. Weekly readings on mortgage rates and expanded reports on jobless claims were also released. Case-Shiller Home Price Readings Showed Slowing Home Price Gains in May May readings from Case-Shiller Home Price Indices showed no decline in home prices, but the national pace of home price growth slowed to 4.50 percent from April’s national average of 4.60 percent. The Case-Shiller 20-City Home Price Index…

27 Jul 2020

By Mortgage Blog Content

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

Financial Reports

Last week’s economic reporting included readings on sales of new and previously owned homes. State and federal data on new and continuing jobless claims were released along with Freddie Mac’s weekly report on mortgage rates. Sales of New and Existing Homes Rise in June Sales of new homes rose at their highest rate in 13 years according to the Commerce Department. New homes sold at a seasonally-adjusted annual pace of 776,000 sales, which exceeded the expected reading of 710.000 new single-family homes sold and May’s reading of 682,000 new homes sold. Analysts said that increased interest in relocating to suburban areas and low mortgage rates fueled buyer interest in new homes.…

29 Jun 2020

By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – June 29, 2020

Financial Reports

Last week’s scheduled economic news included readings on sales of new and pre-owned homes and reports on inflation. Weekly reports on mortgage rates and new and continuing jobless claims were also released. Home Sales Results Mixed for May The National Association of Realtors® reported fewer sales of pre-owned homes in May at a seasonally-adjusted annual pace of 3.91 million sales. Analysts expected 3.80 million sales as compared to April’s reading of 4.33 million sales. This was the lowest reading for sales of pre-owned homes since July 2010 and sales were 26.60 percent lower year-over-year. Lawrence Yun, the chief economist for the National Association of Realtors®, said that sales were expected to…

22 Jun 2020

By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – June 22, 2020

Financial Reports

Last week’s scheduled economic reporting included readings on U.S. Housing markets, housing starts, and building permits issued. Weekly reports on new and continuing jobless claims and mortgage rates were also released. NAHB: Builder Confidence in Housing Market Recovers in June Analysts cited slim supplies of available homes, tight housing markets, and low mortgage rates as drivers of new home sales. Builder confidence in current housing market conditions rose 21 points to an index reading of 58 in June; builder confidence in housing market conditions in the next six months rose 22 points to 68. Builder confidence in buyer traffic in new single-family housing developments rose from May’s index reading of 21…

15 Jun 2020

By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – June 15, 2020

Financial Reports

Last week’s economic reporting included readings on inflation, the post-meeting statement from the Fed’s Federal Open Market Committee, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. Inflation Ticks Up in May May’s Consumer Price Index moved from April’s reading of -0.80 percent to -0.10 percent. The Core Consumer Price Index, which excludes volatile food and energy sectors, rose to -0.40 percent in May as compared to April’s reading of -0.40 percent. The Consumer Price Indices are used to calculate overall and core inflation rates. The Federal Reserve uses an annual inflation rate of 2.00 percent as an indicator for achieving price stabilization. The Federal Open…