21 Mar 2022
By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – March 21, 2022

Financial Reports
Last week’s economic reporting included readings on housing markets from the National Association of Home Builders, sales of previously-owned homes, and government reports on housing starts and building permits issued. Weekly readings on mortgage rates and jobless claims were also released. NAHB: Builder Confidence Slips Two Points in March The National Association of Home Builders reported that home builder confidence in housing market conditions slipped two points to an index reading of 79. Analysts expected a reading of 80 based on February’s reading of 81. Robert Dietz, the NAHB’s chief economist, said: “While low existing inventory and favorable demographics are supporting demand, the impact of elevated inflation and higher interest rates…
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14 Mar 2022
By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – March 14, 2022

Financial Reports
Last week’s economic reporting included month-to-month and year-over-year readings on inflation. The University of Michigan released its monthly consumer sentiment index; weekly readings on mortgage rates and jobless claims were also published. Inflation Reports: No Good News for Consumers The war in Ukraine increased inflation rates in the U.S in February as costs for fuel, food and housing continued to rise. The federal government reported that month-to-month inflation rose by 0.80 percent in February; analysts expected a month-to-month increase of 0.70 percent as compared to January’s reading of 0.60 percent. Core inflation, which excludes volatile food and energy sectors, rose by 0.50 percent in February and matched expectations. January’s month-to-month rate…
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22 Feb 2022
By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – February 22, 2022

Financial Reports
Last week’s economic reporting included readings from the National Association of Home Builders on housing markets, reports on sales of previously owned homes, housing starts, and building permits issued. Weekly readings on mortgage rates and jobless claims were also released. NAHB: Rising Materials Costs, Supply Chain Problems Weigh on Builders The National Association of Home Builders’ February housing market index reading was 82 and one point lower than in January. This was the second consecutive month that builder confidence dropped by one point. Homebuilder confidence in housing market conditions remained relatively high as any index reading over 50 indicates that most builders are confident about market conditions. Short supplies of available…
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14 Feb 2022
By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – February 14, 2022

Financial Reports
Last week’s economic reporting included readings on inflation and the University of Michigan’s preliminary February reporting on consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. Inflation Rises as Fed Considers Raising Key Rate The government’s Consumer Price Index for January reported that month-to-month inflation rose by 0.60 percent as compared to an expected increase of 0.40 percent which was based on December’s month-to-month increase of 0.50 percent.  Year-over-year inflation rose to a rate of 7.50 percent, which was the highest inflation rate in 40 years. Core inflation, which excludes volatile food and energy sectors, also rose 0.60 percent in January from December’s reading of 5.50 percent.…
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07 Feb 2022
By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – February 7, 2022

Financial Reports
Last week’s economic reports included readings on construction spending and labor-related reports on jobs and the national unemployment rate. Weekly data on mortgage rates and jobless claims were also published. Residential Con The Commerce Department reported overall construction spending rose by 1.30 percent in January, which was the largest increase since April of last year. Private residential construction spending fell by 0.30 percent in January; this was the sixth consecutive month for declining private-sector residential construction spending. Construction Spending Falls in January Analysts cited costly building materials, fewer available options for prospective buyers, and higher mortgage rates as factors contributing to less construction spending. Homebuying traditionally slows during the winter months.…
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31 Jan 2022
By Mortgage Blog Content

What’s Ahead For Mortgage Rates This Week – January 31, 2022

Financial Reports
Last week’s economic reporting included readings from S&P Case Shiller Home Price Indices and the FHFA on home prices, data on new home sales, and the Federal Reserve’s statement on the federal interest rate range. The University of Michigan released its monthly survey on Consumer Sentiment and weekly readings on mortgage rates and jobless claims were also published. S&P Case-Shiller Home Price Indices: Home Price Growth Slows in November Home prices rose at a seasonally-adjusted annual pace of 18.80 percent in November according to S&P Case-Shiller’s National Home Price Index. The 20-City Home Price Index, which is frequently used by real estate pros, reported that Phoenix, Arizona home prices rose by…
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