Last week’s scheduled economic reporting included readings on inflation, consumer sentiment, and weekly readings on mortgage rates and jobless claims. Inflation Rate Rises in April, Slower Pace Expected in Coming Months The U.S. Labor Department reported the month-to-month pace of inflation rose by 0.40 percent in April and matched analysts’ expectations. April’s reading surpassed the March reading of 0.10 percent month-to-month inflationary growth. Inflation rose by 4.90 … [Read more...]
Mortgage Interest Rate Versus APR
When you go through the process of applying for a mortgage, you need to make sure you understand all of the terms on the page. Two of the most common numbers you will come across include the mortgage rate and the APR. Many people associate both of these numbers with interest rates, but you will probably notice that they are not quite the same. What are the differences between these two numbers, and how are they going to impact your mortgage loan? The Mortgage Interest Rate The first number you … [Read more...]
What’s Ahead For Mortgage Rates This Week – April 3, 2023
Last week’s economic reporting included readings on home prices, inflation, and pending home sales. Weekly readings on mortgage rates and jobless claims were also published. S&P Case-Shiller Home Price Indices Report Slower Home Price Growth in January Home price growth cooled in January according to S&P Case-Shiller’s 20-City Home Price Index. Home prices increased by 2.50 percent year-over-year in January but rose at a slower pace than December’s reading of 4.60 … [Read more...]
What’s Ahead For Mortgage Rates This Week – March 20, 2023
Last week’s economic reporting included readings on housing starts and building permits issued, the National Association of Home Builders Housing Market Index, and Fed Chair Janet Yellen’s Senate testimony. The Commerce Department reported on housing starts and building permits issued published, and a monthly reading on consumer sentiment was published. Weekly reports on mortgage rates and jobless claims were also released. Two bank failures instill fear in depositors In the … [Read more...]
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