Case-Shiller Home Price Indices reported a year-over-year national home price gain of 9.50 percent for November 2020. Home prices continued to grow in response to high demand for homes and homeowner relocations in response to the covid-19 pandemic. Inventories of pre-owned homes remained low. Home prices rose at a slower pace in November but remained strong in most areas. 20-City Home Price Index Reports Home Price Gains in 19 of 20 Cities November’s edition of the 20-City Home Price Index … [Read more...]
What’s Ahead For Mortgage Rates This Week – January 25, 2021
Last week’s economic reporting included readings from the National Association of Home Builders Housing Market Index, along with Commerce Department readings on housing starts and building permits issued. The National Association of Realtors® reported on sales of previously-owned homes; weekly readings on mortgage rates and jobless claims were also released. NAHB: Home Builders’ Housing Market Index Falls in January Homebuilder confidence in housing market conditions fell three … [Read more...]
What’s Ahead For Mortgage Rates This Week – January 19, 2021
Last week’s economic reports included readings on inflation, retail sales, and a speech by Federal Reserve Chair Jerome Powell. Weekly readings on mortgage rates and jobless claims were also released. Inflation Rises as Retail Sales Fall, Fed Says Current Monetary Policy Won’t Change The Consumer Price Index rose to 0.40 percent in December as compared to November’s reading of 0.20 percent. The CPI measures inflation and the Core CPI measures inflation without the … [Read more...]
What’s Ahead For Mortgage Rates This Week – January 11, 2021
Last week’s economic reports included readings on construction spending and reports on the national unemployment rate and job growth. Weekly reporting on mortgage rates and jobless claims were also published. Construction Spending Increases as Demand for Homes Rises Homebuilders responded to increased demand for single-family homes and increased their spending in November. Construction spending rose by 0.90 percent as compared to projected spending of 1.10 percent and 1.60 percent … [Read more...]
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