Last week’s economic reporting included readings on inflation, retail sales, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. Consumer Inflation Rate Falls as Gas Prices Decrease Lower gas prices was welcomed news to consumers last week, but analysts said that high inflation would continue to impact consumer goods including groceries. The core inflation rate, which excludes volatile food and fuel prices, rose by 0.60 percent, which was twice … [Read more...]
What’s Ahead For Mortgage Rates This Week – September 12, 2022
Last week’s economic reporting was minimal due to the Labor Day Holiday. Fed Chair Jerome Powell Weekly readings on mortgage rates and jobless claims were also released. Fed Chair: Rates Expected to Remain Higher Chair Powell said that interest rates will remain high for a longer than expected time as “history cautions against prematurely loosening [monetary] policy.” The Federal Reserve has a legislative mandate to maintain its target interest rate range at or near 2 percent, … [Read more...]
What’s Ahead For Mortgage Rates This Week – September 6, 2022
Last week’s economic reporting included readings on home price growth, federal data on public and private sector job growth, the national unemployment rate, and data on consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. S&P Case Shiller: Home Price Growth Slows in June The S&P Case-Shiller National Home Price Index reported slower home price growth in June as home price growth slowed to a year-over-year pace of 18.0 percent as compared to … [Read more...]
The Quick and Easy Guide to Understanding the Math Behind Your Mortgage Closing Costs
It's amazing that in a year with extremely low mortgage rates being reported around the country, closing costs are up by as much as 6% from the previous year. Part of the reason for this is that the stricter regulations on loans have increased the costs to banks, and they always find a way to pass on new costs to the consumer. Understanding Third-Party Closing Costs When closing on a mortgage the borrower will notice a long list of additional fees that they are expected to pay for. These can … [Read more...]
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