12 Jul 2021
By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week – July 12, 2021

Financial Reports, ,
Last week’s scheduled economic reporting included readings from the Fed’s Federal Open Market Committee, news on changing FHA home loan requirements for borrowers with student loans, and reporting on job openings. Weekly reports on mortgage rates and jobless claims were also released. FOMC Minutes Show Fed’s Reluctance to Raise Target Rate The Federal Open Market Committee of the Federal Reserve released minutes of its meeting held via teleconferencing on June 15 and 16. The Committee resumed its consideration of creating “domestic and foreign repurchase agencies that would have a backdrop role in fostering implementation and support of monetary policy and…
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06 Jul 2021
By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week – July 5, 2021

Financial Reports, ,
Last week’s economic reports included readings from S&P Case-Shiller Home Price Indices and data on pending home sales. Readings on job growth and und unemployment were also released along with weekly reports on mortgage rates and jobless claims. S&P Case-Shiller: April Home Price Gains Reach Record Highs Craig Lazzara, managing director and global head of investment strategy for S&P Dow Jones Indices, said that April’s year-over-year national home price growth rate of 14.60 percent was “ truly extraordinary.” All cities included in the 20-City Home Price Index posted higher home prices;  five cities including Charlotte, North Carolina, Cleveland, Ohio, and…
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28 Jun 2021
By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week – June 28, 2021

Financial Reports, ,
Last week’s economic reports included readings on sales of new and previously-owned homes.  Weekly readings on mortgage rates and jobless claims were also released. New Home Sales Fall in May New home sales dropped to their lowest reading in a year in May with 769,000 new single-family homes sold on a  seasonally adjusted annual basis.  May’s reading was 5.90 percent lower than April’s reading of 817,000 sales but was 9.20 percent higher year-over-year. May’s decline in new home sales was caused by a 14.50 percent decrease in sales in the South; Sales rose by 33 percent in the Northeast and…
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21 Jun 2021
By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week – June 21, 2021

Financial Reports, ,
Last week’s economic news included readings from the National Association of Home Builders on housing markets and  Commerce Department readings on housing starts and building permits issued. Weekly reports on mortgage rates and jobless claims were also published. NAHB: Home Builder Sentiment Slips Amid High Materials Prices, Labor Shortages The National Association of Home Builders Housing Market Index fell two points to a May index reading of 81. Readings above 50 indicate that most home builders are confident in market conditions, but builder sentiment has fallen from its peak reading of 90 before the pandemic. The NAHB Housing Market reached…
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14 Jun 2021
By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week – June 14, 2021

Financial Reports, ,
Last week’s economic reporting included readings on job openings, inflation, and consumer sentiment. Weekly reports on mortgage rates and jobless claims were also released. Job Openings Increase as Employers Struggle to Fill Positions Job openings rose in April according to the Labor Department, but workers were quitting jobs in record numbers. 9.30 million openings were reported as compared to expectations of 8.20 million job openings and 8.30 million job openings reported in March. Increasing job openings indicate a stronger post-pandemic economy as businesses and service providers return to full capacity.  Employers faced multiple obstacles to filling job openings including early…
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07 Jun 2021
By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week – June 7, 2021

Financial Reports, ,
Last week’s economic reporting included readings on construction spending and public and private-sector employment data. Weekly reports on mortgage rates and jobless claims were also released. Census Bureau Reports Construction Sending Up by 9.8 Percent Year-Over-Year Construction spending rose by nearly 10 percent year-over-year in April. Overall construction spending rose by $1.542 billion on a seasonally-adjusted annual basis. Construction spending rose by 0.20 percent in April, which fell short of the expected 0.50 percent reading, and was lower than the March reading of 1.0 percent growth in construction spending. Residential construction spending increased by one percent in April as compared…
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