16 Aug 2021
By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – August 16, 2021

Financial Reports
Last week’s economic reporting included readings on job openings, inflation, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. Job Openings Rise as Inflation Rate Falls The Labor Department reported a record number of job openings for the fourth consecutive month in June. Job openings rose to 10.1 million available jobs from May’s reading of 9.5 million job openings. Analysts expected job openings to decrease to 9.1 million jobs in June.  Analysts said that previous headwinds to hiring including generous unemployment benefits and childcare issues may be easing. Workers took advantage of the rising demand for employees to negotiate higher wages and switch jobs for better…
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09 Aug 2021
By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – August 9, 2021

Financial Reports
Last week’s economic reporting included readings on construction spending, consumer sentiment, labor sector reports on public and private sector jobs, and national unemployment. Weekly readings for mortgage rates and jobless claims were also released. Residential Sector Drove June Construction Spending Construction spending rose by 0.10 percent in June according to the Commerce Department. Analysts expected spending to increase by 0.50 percent, but builders spent less on public sector and non-residential projects. Spending for all construction spending rose at a year-over-year pace of $1.55 trillion. Residential construction rose by 1.10 percent in June, but public-sector spending fell by -1.20 percent and nonresidential construction spending fell by 0.70 percent. Year-over-year residential construction spending…
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02 Aug 2021
By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – August 2, 2021

Financial Reports
Last week’s economic reporting included readings on home prices, new and pending home sales, and the post-meeting statement of the Fed’s Federal Open Market Committee. Weekly readings on mortgage rates and jobless claims were also released. S&P Case-Shiller Home Price Indices: Home Price Growth Breaks Records for Second Consecutive Month National home prices grew by 16.60 percent year-over-year in May according to S&P Case-Shiller’s National Home Price Index. April’s reading reported year-over-year home price growth of 14.80 percent. Home price growth broke records for the second month in a row in May. S&P Case-Shiller’s 20-City Home Price Index reported top home price growth in Phoenix, Arizona, Seattle, Washington, and San Diego,…
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29 Jul 2021
By Mortgage Blog Content

S&P Case-Schiller Indices Report Record Rise in Home Prices

Financial Reports
Home prices continued to rise at record rates in May according to S&P Case-Shiller Home Price Indices. National home prices rose by 16.60 percent year-over-year in May as compared to 14.80 percent year-over-year price growth in April. The 10-City Home Price Index reported home prices rose 16.40 percent year-over-year and 1.90 percent month-to-month. 20-City Home Price Index Reports 17 Percent Home Price Growth Year-Over-Year S&P Case-Shiller’s 20-City Home Price Index reported month-to-month home price growth of two percent in May as year-over-year home price gains rose from April’s reading of 15 percent to 17 percent year-over-year home price growth. All cities participating in the 20-City Home Price Index reported home price…
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26 Jul 2021
By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – July 26, 2021

Financial Reports
Last week’s economic reporting included readings from the National Association of Home Builders Housing Market Index, data on sales of new and previously-owned homes, and weekly reports on mortgage rates and jobless claims. NAHB: Affordability, Shortages of Labor and Materials Impacting U.S. Housing Markets Housing market conditions are changing according to July’s Housing Market Index produced by the National Association of Home Builders. Although the HMI reading declined by one point in July, ongoing trends including labor shortages, higher prices for building materials, and affordability impacted builder confidence in overall market conditions. July’s index reading was 80 as compared to June’s reading of 81 and the expected reading of 82. Housing…
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19 Jul 2021
By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – July 19, 2021

Financial Reports
Last week’s scheduled economic reports included readings on inflation, Fed Chair Jerome Powell’s testimony before the House Financial Services Committee, and the University of Michigan’s Consumer Sentiment Index. Weekly readings on mortgage rates and jobless claims were also released. Consumer Price Index: June Inflation Grows at Fastest Pace Since 2008 June’s Consumer Price Index showed the fastest pace of inflationary growth in 13 years; inflation grew by 5.40 percent on a seasonally-adjusted annual basis. Used car sales accounted for one-third of the growth, but prices also rose for clothes, food, energy, and travel/hospitality. The year-over-year inflation rate for May was 5.00 percent. Inflation grew by 0.90 percent month-to-month, which exceeded analyst’s…
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