02 Jan 2023
By Aadil Nathoo

What’s Ahead For Mortgage Rates This Week – January 2, 2023

Financial Reports, ,
Last week’s economic reporting included readings on U.S. housing markets, pending home sales, and weekly readings on mortgage rates and jobless claims. S&P Case Shiller Home Price Indices:  Month-to-moth home prices fall in October U.S. home prices fell in October for the fourth consecutive month. Wavering demand for homes was caused by rising mortgage rates and high home prices in many regional markets. The 20-City home price index showed the top three cities with the highest month-to-month home price declines were Miami. Florida with a -1.0 percent decline, Tampa, Florida where home prices declined by -0,8 percent, and Charlotte, North…
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26 Dec 2022
By Aadil Nathoo

What’s Ahead For Mortgage Rates This Week – December 26, 2022

Financial Reports, ,
Last week’s economic scheduled economic news included readings on sales of previously-owned homes, housing starts,  and building permits issued. Readings on the Consumer Price Index, which tracks inflation, were also released along with weekly readings on mortgage rates and jobless claims. Sales of previously-owned homes fall in November The National Association of Realtors® reported fewer sales of previously-owned homes in November than in October. 4.09 million previously-owned homes were sold year-over-year in November as compared to 4.43 million sales reported in October. This was the tenth consecutive month showing fewer sales of previously-owned homes. Although mortgage rates and home prices…
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22 Dec 2022
By Aadil Nathoo

NAHB: Home Builder Confidence in Housing Markets Slips in December

Financial Reports, ,
December’s National Association of Home Builders Housing Market Index reported slipping builder confidence in U.S. housing markets. The Housing Market Index readings fell every month in 2022. Recently rising mortgage rates, materials costs, and inclement winter weather contributed to builder skepticism about current housing market conditions. December’s National  Housing Market Index reading of 31 was the lowest since mid-2012 not including readings published during the pandemic. By comparison, the Housing Market Index reading for December 2021 was 84. The three indices comprising the Housing Market Index reported mixed readings in December. Current home sales decreased by three points and home…
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19 Dec 2022
By Aadil Nathoo

What’s Ahead For Mortgage Rates This Week – December 19, 2202

Financial Reports, ,
Last week’s economic reporting included readings on inflation, retail sales, and the Federal Reserve’s Federal Open Market Committee meeting.  Fed Chair Jerome  Powell held his scheduled post-meeting press conference and weekly readings on mortgage rates and jobless claims were also released. Federal Reserve Raises Target Interest Rate Range The Federal Reserve’s Federal Open Market Committee announced its decision to raise the Fed’s target interest rate range to 4.25 to 4.50 percent from its previous range of 3.75 to 4.00 percent. Fed Chair Jerome Powell said in remarks made during his scheduled press conference, “We’re going into next year with higher…
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12 Dec 2022
By Aadil Nathoo

What’s Ahead For Mortgage Rates This Week – December 12, 2022

Financial Reports, ,
Last week’s scheduled economic reports included preliminary monthly readings on inflation and consumer sentiment along with weekly reporting on mortgage rates and jobless claims. University of Michigan Reports Slower Inflationary Growth The University of Michigan predicted lower inflationary growth as December’s year-over-year reading for inflation fell to 4.6 percent from November’s year-over-year reading of 4.9 percent. This was the lowest inflation reading since September 2021. Analysts credited lower gasoline prices for slowing rapid inflation rates seen in recent months. Falling gas prices also contributed to higher consumer sentiment levels reported in December’s edition of the University of Michigan’s Consumer Sentiment…
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