Last week’s economic reports included readings from the National Association of Home Builders on housing markets along with Commerce Department data on housing starts and building permits issued. Weekly reports on mortgage rates and unemployment claims were also released. NAHB: Builder Confidence in Housing Markets Increases in July Homebuilders gained confidence in housing market conditions as home buyers sought homes in less-congested suburban areas. Builder confidence rose 14 points to an index reading of 72 in July. NAHB Chair Chuck Fowke said, “Builders are seeing strong traffic and lots of interest in new construction as existing home inventory remains lean.” … [Read more...]
What’s Ahead For Mortgage Rates This Week – June 22, 2020
Last week’s scheduled economic reporting included readings on U.S. Housing markets, housing starts, and building permits issued. Weekly reports on new and continuing jobless claims and mortgage rates were also released. NAHB: Builder Confidence in Housing Market Recovers in June Analysts cited slim supplies of available homes, tight housing markets, and low mortgage rates as drivers of new home sales. Builder confidence in current housing market conditions rose 21 points to an index reading of 58 in June; builder confidence in housing market conditions in the next six months rose 22 points to 68. Builder confidence in buyer traffic in new single-family housing developments rose … [Read more...]
What’s Ahead For Mortgage Rates This Week – March 30th, 2020
Scheduled monthly readings were released for new home sales and consumer sentiment. Weekly readings on mortgage rates and new jobless claims were also released. New Home Sales Beat Expectations in February Sales of new homes dropped 4.40 percent in February after reaching a 13-year high in January. 765,000 new homes were sold on a seasonally-adjusted annual basis, which exceeded expectations of 750,000 sales in February. New home sales were 14.30 percent higher year-over-year. Analysts said that further declines monthly new home sales are expected as the coronavirus spreads. The national median price for a new home was $345,900 and there was a five-month inventory of new homes for sale … [Read more...]
What’s Ahead For Mortgage Rates This Week -March 23rd , 2020
Last week’s economic reports included readings from the National Association of Home Builders on housing market conditions, Commerce Department readings on housing starts and building permits issued and National Association of Realtors® reporting on sales of previously-owned homes. The Federal Reserve canceled the scheduled meeting of the Federal Open Market Committee and Fed Chair’s press conference, but the Fed did lower its target federal funds rate early in the week. Weekly readings on mortgage rates and initial jobless claims were also released. Builder Confidence, Housing Starts and Building Permits Decrease Builder confidence in housing market conditions … [Read more...]
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