21 Dec 2020
By 24hr Mortgage

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

Financial Reports, ,
Last week’s scheduled economic reporting included readings from the National Association of Home Builders and a statement from the Federal Reserve’s Federal Open Market Committee. Weekly readings on mortgage rates and jobless claims were also released. NAHB: Builder Confidence Falls In December Homebuilder confidence in market conditions for single-family dropped by four points in December to an index reading of 86.  December’s reading was the second-highest on record after November’s reading. Component readings of the Housing Market Index also dropped. Builder confidence in current market conditions fell to 92 as confidence in single-family home sales within the next six months…
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14 Dec 2020
By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week – December 14, 2020

Financial Reports, ,
Last week’s scheduled economic reporting included readings on inflation and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. Inflation Rate Rises in November Inflation rose by 0.20 percent in November according to the federal government, but this reading fell short of the Federal Reserve’s goal of achieving 2.00 percent inflation annually. November’s year-over-year inflation rate was 1.20 percent. October’s inflation reading was flat and analysts expected inflation to grow by 0.10 percent in November. Core inflation, which excludes volatile food and fuel sectors, showed readings identical to the Consumer Price Index reading. November’s Core Consumer…
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07 Dec 2020
By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week – December 7, 2020

Financial Reports, ,
  vLast week’s economic reports included pending home sales, construction spending, and labor-sector readings on job growth and the national unemployment rate. Weekly readings on mortgage rates and jobless claims were also published. Last week’s economic reports included pending home sales, construction spending, and labor-sector readings on job growth and the national unemployment rate. Weekly readings on mortgage rates and jobless claims were also published.   Construction Spending Rises as Demand for Homes Increases High demand for single-family homes drove construction spending up by 1.30 percent to a seasonally adjusted annual pace of $1.44 trillion in October. The Commerce Department…
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16 Nov 2020
By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week – November 16, 2020

Financial Reports, ,
Last week’s economic reporting included readings on inflation and consumer sentiment along with weekly readings on mortgage rates and jobless claims. Federal Reserve Chair Jerome Powell and Federal Reserve Board members addressed economic expectations resulting from the COVID-19. Chair Powell said that there would be no quick fix for the economy and that the economy would suffer for four to six months until the pandemic slows. He also said that a COVID-19 vaccine would not be a panacea for the virus and said that “ the next few months could be challenging” as the virus spreads at a faster pace.…
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09 Nov 2020
By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week – November 9, 2020

Financial Reports, ,
Last week’s economic news included readings on construction spending, the Fed’s Federal Open Market Committee statement, and a press conference by Federal Reserve chairman Jerome Powell. Labor data on public and private sector jobs and the national unemployment rate were reported along with weekly readings on mortgage rates and jobless claims. Residential Developments Lead September Construction Spending High demand for homes continued to fuel home construction, but public and non-residential construction spending was slower according to the Commerce Department. Residential construction spending rose by 2.70 percent on a seasonally-adjusted annual basis while public construction spending decreased by -1.70 percent and…
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28 Sep 2020
By 24hr Mortgage

What’s Ahead For Mortgage Rates This Week – September 28, 2020

Financial Reports, ,
  Last week’s economic news included readings on new and existing home sales and Fed Chair Jerome Powell’s testimony on changing the Fed’s business loan policy. Weekly readings on mortgage rates and jobless claims were also released. Sales of New and Pre-Owned Homes Rise In August New homes sold at a seasonally-adjusted annual pace of 1.01 million sales; analysts expected the sales pace to fall to 900,000 sales from July’s reading of 965,000 new home sales. Homebuyers turned to new homes as the supply of pre-owned homes dwindled. Homeowners stayed put as fears over COVID-19 contagion limited sales. Pre-owned homes…
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