Home prices continued to rise at record rates in May according to S&P Case-Shiller Home Price Indices. National home prices rose by 16.60 percent year-over-year in May as compared to 14.80 percent year-over-year price growth in April. The 10-City Home Price Index reported home prices rose 16.40 percent year-over-year and 1.90 percent month-to-month. 20-City Home Price Index Reports 17 Percent Home Price Growth Year-Over-Year S&P Case-Shiller’s 20-City Home Price Index reported … [Read more...]
What’s Ahead For Mortgage Rates This Week – July 26, 2021
Last week’s economic reporting included readings from the National Association of Home Builders Housing Market Index, data on sales of new and previously-owned homes, and weekly reports on mortgage rates and jobless claims. NAHB: Affordability, Shortages of Labor and Materials Impacting U.S. Housing Markets Housing market conditions are changing according to July’s Housing Market Index produced by the National Association of Home Builders. Although the HMI reading declined by one … [Read more...]
What’s Ahead For Mortgage Rates This Week – July 19, 2021
Last week’s scheduled economic reports included readings on inflation, Fed Chair Jerome Powell’s testimony before the House Financial Services Committee, and the University of Michigan’s Consumer Sentiment Index. Weekly readings on mortgage rates and jobless claims were also released. Consumer Price Index: June Inflation Grows at Fastest Pace Since 2008 June’s Consumer Price Index showed the fastest pace of inflationary growth in 13 years; inflation grew by 5.40 percent … [Read more...]
What’s Ahead For Mortgage Rates This Week – July 12, 2021
Last week’s scheduled economic reporting included readings from the Fed’s Federal Open Market Committee, news on changing FHA home loan requirements for borrowers with student loans, and reporting on job openings. Weekly reports on mortgage rates and jobless claims were also released. FOMC Minutes Show Fed’s Reluctance to Raise Target Rate The Federal Open Market Committee of the Federal Reserve released minutes of its meeting held via teleconferencing on June 15 and 16. The … [Read more...]
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