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...]
What’s Ahead For Mortgage Rates This Week – January 4, 2021
Last week’s economic news included reports from Case-Shiller Home Price Indices and data on pending home sales. No weekly data on jobless claims were released due to the New Year holiday, but Freddie Mac did issue its weekly report on average mortgage rates. Case-Shiller Reports Home Prices Reached 6-Year High In October U.S. home prices reached their highest level in six years according to Case-Shiller’s National Home Price Index. Home prices rose by 8.40 percent year-over-year in … [Read more...]
What’s Ahead For Mortgage Rates This Week – December 28, 2020
Last week’s economic news included readings on sales of new and previously-owned homes and consumer sentiment. Weekly average mortgage rates were also released, but readings for jobless claims were not released due to the Christmas holiday. Single-Family Home Sales Fall in November Sales of new and previously owned homes were lower in November. Fear of rising covid-19 cases and the usual slump in home sales during the winter holidays contributed to fewer home sales. Rapidly rising home … [Read more...]
What’s Ahead For Mortgage Rates This Week – December 21, 2020
Last week’s scheduled economic reporting included readings from the National Association of Home Builders and a statement from the Federal Reserve’s Federal Open Market Committee. Weekly readings on mortgage rates and jobless claims were also released. NAHB: Builder Confidence Falls In December Homebuilder confidence in market conditions for single-family dropped by four points in December to an index reading of 86. December’s reading was the second-highest on record … [Read more...]
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