Last week's economic reports included readings on inflation, retail sales and consumer sentiment. Weekly readings on mortgage rates and first-time jobless claims were also released. Consumer Price Index Lower in May as Retail Sales Hold Steady Last month's Consumer Price Index, which is a widely-used gauge of inflation, dropped to 0.10 percent in May and matched expectations. April posted month-to-month growth of 0.30 percent. Core inflation, which excludes volatile food and fuel sectors, rose 0.10 percent in May and fell short of expectations of 0.20 percent growth. April's Core Consumer Price Index grew by 0.10 percent. Analysts reported a likely slowdown in economic expansion last week. … [Read more...]
What’s Ahead For Mortgage Rates This Week – June 3rd, 2019
Last week's economic news included readings from Case-Shiller on home prices and pending home sales. Readings on consumer confidence and weekly reports on mortgage rates and new jobless claims were also released. Case-Shiller: Home Price Growth Slows in March While home prices continue to rise throughout the U.S., they are growing at a slower pace. Case-Shiller reported that Home prices dropped 0.20 percent in March to a growth rate of 3.70 percent on a seasonally-adjusted annual basis. Case-Shiller said that March home price growth was the lowest rate reported in 10 years. Top cities for home price growth in March were Last Vegas, Nevada with a seasonally-adjusted year-over-year home price … [Read more...]
What’s Ahead For Mortgage Rates This Week – May 28th, 2019
Last week's economic news included readings on sales of new and pre-owned homes; weekly readings on mortgage rates and first-time jobless claims were also released. Sales of New and Pre-Owned Homes Lower in April Sales of brand-new homes fell nearly seven percent in April according to Commerce Department reports. Analysts noted that March sales of new homes were revised upward, which contributed to the difference between March and April readings. 673,000 new homes were sold in April on a seasonally adjusted annual basis. Analysts expected a reading of 670,000 sale of new homes; this reading was based on the initial March reading which was later revised upward to 723,000 sales. Factors … [Read more...]
What’s Ahead For Mortgage Rates This Week – May 20th, 2019
Last week's economic reports included readings from the National Association of Home Builders on housing market conditions, housing starts and building permits issued. Consumer sentiment was reported along with weekly readings on mortgage rates and new jobless claims. NAHB: Builder Confidence Rises in May, Housing Starts Increase in April The National Association of Home Builders Housing Market Index posted its highest reading in seven months in May as headwinds facing home construction waned. Lower mortgage rates were a positive sign. May's reading rose three points to 66; component readings also rose. The index of builder confidence in current housing market conditions rose three … [Read more...]
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