Last week's economic news included the NAHB Housing Market Index, reports on housing starts, building reports and existing home sales. Minutes of the Federal Reserve's last FOMC meeting were also released. Homebuilder Confidence Unchanged, Housing Starts and Building Permits Increase The National Association of Home Builders (NAHB) reported that builder confidence held steady with a reading of 58 in May. Analysts projected a reading of 58 and April's reading was also 58. Builder confidence in … [Read more...]
NAHB: Home Builder Confidence Holds Steady in May
The National Association of Home Builders reported that home builder confidence in the U.S. housing market conditions held steady for the fourth consecutive month in May. Builder confidence stayed at a reading of 58, which was the number expected by analysts and was also the reading for April. Analysts said that the consistency in readings signified expansion in housing markets. Any reading over 50 indicates that more builders than not are confident about market conditions. Components of the … [Read more...]
What’s Ahead For Mortgage Rates This Week – May 16, 2016
Last week's economic news included reports on retail sales and consumer sentiment along with weekly releases on new jobless claims and mortgage rates. Retail sales jumped 1.30 percent in April as compared to the March reading of 0.30 percent. Retail sales excluding the automotive sector rose from 0.40 percent growth in March to 0.80 percent growth in April. Both retail sales reports exceeded expectations. Growth in consumer spending suggests higher confidence in economic conditions and may lead … [Read more...]
What’s Ahead For Mortgage Rates This Week – May 9, 2016
Mortgage rates fell across the board last week according to Freddie Mac's Primary Mortgage Market Survey. Other economic news included reports on construction spending, public and private sector employment and national unemployment. Construction Spending Grows in March The Commerce Department reported that the growth rate for construction spending fell in March to 0.30 percent/Analysts expected a reading of 0.70 percent based on February's upwardly revised growth rate of 1.0 percent. … [Read more...]
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