Last week’s economic news included readings from the National Association of Home Builders on home prices, Commerce Department readings on building permits issued, and housing starts. The National Association of Realtors® reported on sales of previously-owned homes; weekly reports on mortgage rates and jobless claims were also released. NAHB Housing Market Index Posts Lowest Reading Since May 2020 The housing market is cooling off according to July’s NAHB Housing Market … [Read more...]
What’s Ahead For Mortgage Rates This Week – July 18, 2022
Inflation dominated last week’s economic readings and predictions as it hit a year-over-year growth rate of 9.10 percent in July. Inflation reached its highest year-over-year growth rate since 1981. Gasoline prices eased somewhat, but not enough to provide relief against a backdrop of high housing and food prices. Low and moderate-income consumers were disproportionately impacted as rents rose beyond near-record inflation and home prices remained out of reach for many would-be home … [Read more...]
What’s Ahead For Mortgage Rates This Week – June 21, 2022
Last week’s economic news included reporting on home builder confidence in national and regional housing markets, a post-meeting statement from the Federal Reserve’s Federal Open Market Committee, and Fed Chair Jerome Powell’s news conference. The National Association of Home Builders released its national and regional housing market indices. Weekly readings on mortgage rates and jobless claims were also published. NAHB Housing Market Indices Reflect Slowing Growth in Housing … [Read more...]
What’s Ahead For Mortgage Rates This Week – June 13, 2022
Last week’s economic reporting was highly focused on inflation, which grew at its fastest pace since 1981. Rising fuel and food prices boosted inflation in the U.S. and abroad; Analysts said the Ukraine War and supply chain problems continued to drive inflation. Weekly readings on mortgage rates and jobless claims were also released. Inflation Hits Highest Level in 41 Years The government’s Consumer Price Index, which tracks inflation, rose at a month-to-month pace of 1.0 … [Read more...]
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