09 Nov 2020
By Aadil Nathoo

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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02 Nov 2020
By Aadil Nathoo

What’s Ahead For Mortgage Rates This Week – November 2, 2020

Financial Reports, ,
Last week’s economic reporting included home price data from Case-Shiller Home Price Indices along with readings on pending home sales, new home sales, and consumer sentiment. Weekly reports on mortgage rates and jobless claims were also released. Case-Shiller: August Home Prices Rise at Fastest Pace in Two Years Home prices rose at a seasonally-adjusted annual pace of 5.70 percent in August according to Case-Shiller’s National Home Price Index. U.S. home prices rose by 4.80 percent in July The Case-Shiller 20-City Home Price Index showed 5.20 percent year-over-year home price growth in August. Phoenix, Arizona, held first place in home price…
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28 Oct 2020
By Aadil Nathoo

Case-Shiller Reports Fastest Home Price Growth in Two Years

Financial Reports, ,
Home prices rose at their fastest rate in two years according to Case-Shiller Home Price Indices. The National Home Price Index for August showed 5.70 percent home price growth year-over-year as compared to 4.80 percent growth reported in July. The Case-Shiller 20-City Home Price Index showed that home prices rose to a 5.70 percent year-over-year pace from July’s growth rate of 4.10 percent. Phoenix, Arizona held the top home price growth rate for the 15th consecutive month with year-over-year home price growth of 9.90 percent. Seattle, Washington held second place with 8.50 percent growth in home prices. San Diego, California…
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19 Oct 2020
By Aadil Nathoo

What’s Ahead For Mortgage Rates This Week – October 19, 2020

Financial Reports, ,
Last week’s economic reporting included readings on inflation, retail sales, and consumer sentiment. Weekly readings on average mortgage rates and jobless claims were also released. Inflation Rate Slows as Retail Sales Increase Inflation rose 0.20 percent in September, which was the slowest growth rate in four months. Analysts credited the rise in consumer prices to less post-pandemic price shock as consumers adjusted to higher prices for goods. Consumer prices were boosted by used vehicle prices, which increased at their highest pace in 51 years. Core consumer prices, which exclude volatile food and fuel sectors, also rose by 0.20 percent in…
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12 Oct 2020
By Aadil Nathoo

What’s Ahead For Mortgage Rates This Week – October 12, 2020

Financial Reports, ,
Last week’s economic reporting included readings on inflation,  job openings, a speech by Fed Chair Jerome Powell on the economy, and the latest Consumer Sentiment Index from the University of Michigan. Weekly reports on new and continuing jobless claims and mortgage rates were also released. Hiring Surge and Job Separations Ease in August The U.S. Department of Labor reported fewer job openings in August with 6.49 million job openings reported as compared to July’s reading of 6.70 million jobs available. Analysts noted that this indicated a slowdown in hiring after businesses re-opened when COVID-19 restrictions lapsed. Job separations, which include…
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