What’s Ahead For Mortgage Rates This Week – July 8th, 2019
Last week's scheduled economic news included readings on construction spending and reports on public and private sector jobs. Monthly readings for public and private sector jobs and the national unemployment rate were released along with weekly reports on mortgage rates and initial jobless claims. Construction Spending Dips in May May construction spending fell to a seasonally-adjusted annual rate of 0.80 percent growth at a pace of $1.3 trillion as compared to April's reading, which was adjusted to 0.40 percent growth after reports of a flat reading. Year-over-year construction spending was 2.30 percent lower in May. High materials costs and shortages of workers continued to dampen builder sentiment as shortages of…