Last week’s economic reporting included the Federal Reserve’s statement on its target interest rate range and Fed Chair Jerome Powell’s regularly-scheduled press conference. Data on construction spending and public and private-sector jobs was published along with weekly reports on mortgage rates and jobless claims. Fed Hikes Key Interest Rate Range, but Signals a Future Slowdown The Federal Reserve increased its key interest rate range last week from 3.50-3.75 percent to … [Read more...]
What’s Ahead For Mortgage Rates This Week – October 31, 2022
Last week’s economic news included readings on home prices from S&P Case-Shiller home price indices along with sales of new homes and federal government data on inflation. Weekly readings on mortgage rates and jobless claims were also released. S&P Case-Shiller Home Price Indices: Home Price Growth Slows in August U.S home prices fell by 9.8 percent year-over-year in August according to S&P Case-Shiller’s National Home Price Index. National home prices fell by -5.3 … [Read more...]
S&P Case-Shiller Home Price Indices: U.S. Home Price Growth Slows in August
U.S home price growth slowed for the second consecutive month in August according to S&P Case-Shiller’s national home price index. National home price growth fell by -9.8 percent year-over-year as compared to July’s year-over-year reading of -5.3 percent. Home price growth slowed by -1.1 percent month-to-month from July to August. Rising Mortgage Rates and Recession Worries Dampen Homebuyer Interest The Mortgage Bankers Association forecasted a recession in 2023 and expects … [Read more...]
What’s Ahead For Mortgage Rates This Week – October 24, 2022
Last week’s economic reporting included readings from the National Association of Home Builders on national and regional U.S. housing markets. The National Association of Realtors® reported on sales of previously-owned homes, and the Commerce Department released readings on building permits issued and housing starts. Weekly readings on mortgage rates and jobless claims were also released. NAHB: Home Builder Confidence in Housing Market Falls for 10th Consecutive Month The … [Read more...]
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