27 Jan 2020
By Mortgage Blog Content

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

Financial Reports
Last week’s economic reporting was slim due to the observance of the Martin Luther King Jr. holiday. The National Association of Realtors® reported on sales of previously owned homes and the Veterans Administration announced changes to its home loan programs. Weekly reports on mortgage rates and initial unemployment claims were also released. Sales Pace of  Pre-owned Homes Rose 3.60 Percent in December The sales pace of previously-owned homes jumped by 3.60 percent on a seasonally-adjusted annual basis. December’s sales pace rose to 5.54 million sales. 5.35 million homes were sold on a seasonally-adjusted annual basis in November. Sales of new and pre-owned homes rose 10.60 percent year-over-year. The number of available…
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21 Jan 2020
By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – January 21st, 2020

Financial Reports
Last week’s economic reports included the National Association of Home Builders Housing Market Index along with readings on consumer sentiment and weekly reports on mortgage rates and new jobless claims. NAHB: Builder Confidence d in Housing Markets Drops 1 Point in January Homebuilder confidence in overall housing market conditions dropped one point in January, but analysts said that a new trade deal would likely benefit builder interests. The National Association of Home Builders Housing Market Index dropped to an index reading of 75 from December’s reading of 76; December’s reading was the highest since 1999. The reading for builder confidence in January 2019 was 58; while any reading over 50 is…
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13 Jan 2020
By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – January 13th, 2020

Financial Reports
Last week’s economic reports included readings on public and private sector jobs, the national unemployment rate and weekly readings on mortgage rates and new unemployment claims. ADP: Private-Sector Job Growth Eases in December Private-sector jobs increased by 202,000 jobs in December and exceeded expectations. November’s original reading of 60,000 new private-sector jobs was revised to 124,000 jobs. Three and six-month average private-sector job growth rates were 159,000 and 151,000 jobs, but these growth rates fell short of 2018’s average monthly job growth rate of 218,000 jobs added. Analysts said that private-sector job growth has settled into a more modest but steady pattern. Non-Farm Payrolls: Public and Private-Sector Job Growth Slower in…
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06 Jan 2020
By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – January 6th, 2020

Financial Reports
Last week’s economic reports included readings from Case-Schiller Home Price Indices and National Association of  Realtors® data on pending home sales. The Conference Board of the U.S. Senate also released its Consumer Confidence Index. Weekly readings on mortgage rates and first-time jobless claims were also released. Case-Shiller Reports 0.10 Percent Uptick in National  Home Price Index The National Home Price Index issued by Case-Shiller for October reported a year-over-year increase of 3.20 percent in home prices. Case-Shiller’s 20-City Home Price Index reflected the influence of low inventories of affordable homes as pricey metro areas reported slower growth if not declines in home-price growth.  The top three cities reporting highest year-over-year home…
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30 Dec 2019
By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – December 30th, 2019

Financial Reports
Last week’s economic reports were limited due to the Christmas holiday. New home sales data was released along with a weekly reading on mortgage rates. Census Bureau: New Home Sales Hit Highest Level Since 1999 Mortgage rates below 4.00 percent propelled the highest number of new homes sold since 1999. 719,000 new homes were sold on a seasonally-adjusted annual basis in November. Analysts expected November sales of new homes to reach 740,000 sales based on October’s original reading of 733,000 sales, but this reading was later revised to 710,000 sales. New home sales reported are based on a narrow range of data and subject to major revisions. Slim inventories of previously-owned…
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23 Dec 2019
By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – December 23rd, 2019

Financial Reports
Last week’s economic reports included readings from the National Association of Home Builders on housing markets; the National Association of Realtors® released data on sales of previously-owned homes and the Commerce Department released readings on housing starts and building permits issued. Weekly reports on mortgage rates and new jobless claims were also released. NAHB: Builder Confidence Rises in December According to the National Association of Home Builders, builder confidence in housing market conditions rose in December to an index reading of 76 as compared to November’s reading of 71. Any reading over 50 indicates that most home builders surveyed were confident about housing market conditions. Builder confidence in current market conditions…
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