What’s Ahead For Mortgage Rates This Week – August 31, 2020

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Last week’s economic news included readings from Case-Shiller Home Price Indices, along with data on new and pending home sales. Weekly readings on mortgage rates and new and continuing jobless claims were also published. Case-Shiller: Home Price GrowthHolds Steady in June National home prices grew at a seasonally-adjusted annual pace of 4.30 percent in June, which was unchanged from May’s year-over-year growth rate for home prices. The 20-City Home Price Index rose by 3.50 percent year-over-year in June.   Phoenix, Arizona reported the leading year-over-year home price growth rate of 9.00 percent. Seattle, Washington held second place with a year-over-year…
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What’s Ahead For Mortgage Rates This Week – July 13, 2020

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Last week’s scheduled economic news included readings on consumer credit, job openings, jobless claims, and mortgage rates. Consumer Borrowing Declined at Slower Pace in May According to Federal Reserve data, consumer borrowing fell at a slower annual pace of -5.30 percent in May as compared to April’s reading of -20 percent. Non-revolving consumer credit, which includes vehicle and student loans, increased by 2.30 percent in May. The Federal Reserve does not report on real estate loans. Federal assistance programs including the first round of stimulus checks, additional unemployment payments and support for businesses contributed to better readings for the economy…
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What’s Ahead For Mortgage Rates This Week – May 4th, 2020

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Last week’s economic reports included readings from Case-Shiller Housing Market Indices, pending home sales, and inflation. Weekly readings on mortgage rates and first-time jobless claims were also released. Case-Shiller: February Home Price Data Positive Before Coronavirus Impact February data on home prices showed rising home prices; the Case-Shiller National Home Price Index showed 4.20 percent growth in home prices year-over-year as compared to January’s home price growth rate of 3.90 percent. Case-Shiller’s 20-City Home Price Index rose by 0.40 percent from a year-over-year rate of  3.10 percent to 3.50 percent. Home prices increased in all of the 20 cities included…
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What’s Ahead For Mortgage Rates This Week – April 27th, 2020

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Last week’s scheduled economic news included readings on sales of new and previously-owned homes and consumer confidence. Weekly readings on mortgage rates and new jobless claims were also released. COVID-19 Requirements Impact Home Sales Widespread state and local requirements for sheltering at home negatively impacted home sales in March. New homes sold at an annual pace of 627,000 sales as compared to 741,000 sales reported in February. Analysts estimated 628,000 sales for March according to the Commerce Department. The National Association of Realtors® reported lower sales of previously-owned homes in March with an annual pace of 5.27 million sales. February’s…
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What’s Ahead For Mortgage Rates This Week – April 20th, 2020

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Last week’s scheduled economic reporting included readings on home builder sentiment, housing starts and building permits issued. Weekly reports on mortgage rates and initial jobless claims were also released NAHB: Homebuilder Confidence Crashes as Coronavirus Impacts Construction Homebuilder sentiment concerning housing market conditions dropped significantly in April according to the National Association of Home Builders Housing Market Index. April’s index reading of 30 was the largest month-to-month drop recorded since the Housing Market Index started 30 years ago. Homebuilder confidence was 42 points lower than the March reading of 72 and was the lowest reading since June 2012. Index readings…
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What’s Ahead For Mortgage Rates This Week – April 13th, 2020

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Last week’s economic reports were limited due to closures connected with coronavirus regulations. The Federal Reserve did not issue minutes for the most recent Federal Open Market Committee meeting as the meeting was canceled. Inflation readings were released; weekly readings on mortgage rates and new jobless claims were released along with the University of Michigan’s Consumer Sentiment Index. Consumer Price Index Falls In March The Consumer Price Index dropped by -0.40 percent in March; this was its biggest decline in five years. Lower inflation was largely due to falling fuel prices. The Core Consumer Price Index, which excludes volatile food…
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