Last week's economic reports included readings from the National Association of Home Builders, Commerce Department reports on housing starts and building permits issued. Sales of pre-owned homes were reported along with weekly readings on mortgage rates and new jobless claims. Builder Confidence Slips as Trade Wars Boost Lumber Prices According to the National Association of Home Builders, home builder confidence in current market conditions was down two points to 68 as compared to May's index … [Read more...]
What’s Ahead For Mortgage Rates This Week – June 18th, 2018
Last week's economic reports included the post-meeting statement by the Fed's Federal Open Market Committee along with readings on retail sales and inflation. Weekly reports on mortgage rates and new jobless claims were also released. Fed Raises Key Interest Rate on Strong Economic Indicators The post-meeting announcement by the Federal Open Market Committee of the Federal Reserve indicated that committee members voted to raise the target federal funds rate to 0.175 to 2.00 percent from the … [Read more...]
What’s Ahead For Mortgage Rates This Week – June 11th, 2018
Last week’s economic reports included analyst assertions that U.S. housing markets are overvalued in over 50 percent of markets. Weekly reports on mortgage rates and first-time jobless claims were also released. CoreLogic: Over Half of Top 50 U.S. Housing Markets Overvalued Rapidly rising home prices are causing some U.S. markets to be overvalued, which means that home prices are higher than a community’s ability to sustain. What goes up must come down in such scenarios, but home … [Read more...]
What’s Ahead For Mortgage Rates This Week – June 4th, 2018
Last week's economic reports included readings on Case-Shiller home prices, pending home sales and construction spending. Weekly readings on mortgage rates and new jobless claims were released, along with monthly labor-related reports on job creation and the national unemployment rate. Case-Shiller: Home Prices Maintain Rapid Growth S&P Case-Shiller home price indices for March showed home prices continued to grow at blazing rates. Seattle, Washington held on to first place with a … [Read more...]
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