Financial Reports

01 Jun 2020

What’s Ahead For Mortgage Rates This Week – June 1, 2020

Financial Reports

Last week’s economic reports included monthly readings from Case-Shiller Home Price Indices, FHFA home prices, and readings on new and pending home sales. Weekly reports on mortgage rates and first-time jobless claims were also released. Case-Shiller Home Price Indices: Home Price Growth Pace Increased In March National home prices rose at a year-over-year pace of 4.50 percent in March from February’s reading of 4.20 percent. According to the Case-Shiller 20-City Home Price Index, home prices rose by 0.40 percent to a year-over-year growth rate of 3.90 percent. The three cities reporting the highest rates of home price growth year-over-year were Phoenix, Arizona with 8.20 percent year-over-year growth; Seattle, Washington reported year-over-year…

26 May 2020

By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – May 26th, 2020

Financial Reports

Last week’s economic news included readings from the National Association of Home Builders on housing market conditions and reports on housing starts and building permits issued. Fed Chair Jerome Powell testified before Congress about the impact of Covid-19. Weekly reports on mortgage rates and first-time jobless claims were also released. NAHB: Home Builder Confidence Improves in May Home-builder confidence rose seven points in May to an index reading of 37; April’s reading of 30 was the lowest reading for the NAHB Housing Market Index since June 2012. Low mortgage rates and expectations that the worst of the Covid-19 pandemic had passed contributed to higher readings for builder confidence. Component readings in…

18 May 2020

By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – May 18th, 2020

Financial Reports

Last week’s economic news included readings on inflation, retail sales, and a speech by Federal Reserve Chair Jerome Powell. The University of Michigan released a preliminary reading of its Consumer Sentiment Survey; weekly readings on mortgage rates and initial jobless claims were also released. April Inflation and Retail Sales in Negative Territory Consumer prices fell in April to a negative reading of -0.80 percent and matched expectations. The Core Consumer Price Index, which excludes volatile food and energy sectors, fell to -0.40 percent from -0.10 percent in March. Analysts expected a reading of -0.20 percent. Consumer Price Indices are used for determining inflation rates. Retail sales also posted negative readings for…

11 May 2020

By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – May 11th, 2020

Financial Reports

Last week’s economic releases included readings on public and private sector employment, the national unemployment rate. Economic Destruction Continues as Coronavirus Spreads ADP reported 20.2 million private-sector jobs lost in April as compared to 149,000 jobs lost in March. The government’s Non-Farm Payrolls report showed -20.5 million public and private-sector jobs lost in April as compared to -870,000 jobs lost in March. Both of these jobs reports typically show job growth, but they now report jobs lost due to the coronavirus pandemic and efforts to control it. Likewise, the national unemployment rate grew in April to 14.70 percent as compared to the normal reading of 4.40 percent in March. Mortgage Rates…

04 May 2020

By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – May 4th, 2020

Financial Reports

Last week’s economic reports included readings from Case-Shiller Housing Market Indices, pending home sales, and inflation. Weekly readings on mortgage rates and first-time jobless claims were also released. Case-Shiller: February Home Price Data Positive Before Coronavirus Impact February data on home prices showed rising home prices; the Case-Shiller National Home Price Index showed 4.20 percent growth in home prices year-over-year as compared to January’s home price growth rate of 3.90 percent. Case-Shiller’s 20-City Home Price Index rose by 0.40 percent from a year-over-year rate of 3.10 percent to 3.50 percent. Home prices increased in all of the 20 cities included in the Index; 17 of the 20 cities reported a greater…

27 Apr 2020

By Mortgage Blog Content

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

Financial Reports

Last week’s scheduled economic news included readings on sales of new and previously-owned homes and consumer confidence. Weekly readings on mortgage rates and new jobless claims were also released. COVID-19 Requirements Impact Home Sales Widespread state and local requirements for sheltering at home negatively impacted home sales in March. New homes sold at an annual pace of 627,000 sales as compared to 741,000 sales reported in February. Analysts estimated 628,000 sales for March according to the Commerce Department. The National Association of Realtors® reported lower sales of previously-owned homes in March with an annual pace of 5.27 million sales. February’s annual sales rate was 5.76 million homes. Sales of pre-owned homes…