financial reports: What's Ahead For Mortgage Rates This Week - April 19, 2021 - 04/19/21 01:13 PM
Last week’s economic news included readings from the National Association of Home Builders on housing markets along with Commerce Department readings on housing starts and building permits issued.  Fed Chair Jerome Powell appeared on 60 Minutes. Weekly readings on mortgage rates and jobless claims were also released.
NAHB: Homebuilder Confidence Ticks Up
The National Association of Home Builders reported that home builders’ confidence in housing market conditions rose one point to an index reading of 83. Builder confidence readings over 50 indicate that most builders consider housing market conditions as positive.
Component readings used for the NAHB Housing Market Index were varied. Builder confidence … (0 comments)

financial reports: What's Ahead For Mortgage Rates This Week - April 12, 2021 - 04/12/21 09:16 AM
Last week’s economic reporting included readings from the Federal Reserve’s Federal Open Market Committee and a speech given by Fed Chair Jerome Powell. Weekly reports on mortgage rates and jobless claims were also released.
FOMC Minutes: Fed’s Monetary Policy Stance to Remain “Accommodative”
The Federal Open Market Committee of the Federal Reserve released minutes of its meeting held March 16 and 17. The meeting minutes indicated split opinions on the U.S. economy’s outlook. Several members expected inflation to rise due to constricted supply chains and high demand for goods and services. This scenario resembles trends in residential real estate where supplies of available … (0 comments)

financial reports: Latest Jobs Report: What Does It Mean for You & the Housing Market? - 04/08/21 01:42 PM

Last Friday, the Bureau of Labor Statistics released a very encouraging jobs report. The economy gained 916,000 jobs in March – well above expert projections of 650,000 to 675,000. The unemployment rate fell again and is now at 6%.
What does this mean for you? Our lives are deeply impacted by our nation’s economy. The better the economy is doing overall, the better most individuals in the country will do as well. Here’s a look at what four experts told the Wall Street Journal after reviewing last week’s report.
Michael Feroli, JPMorgan Chase: "The powerful tailwind of the reopening of economic activity appears to be gathering … (1 comments)

financial reports: Case-Shiller: Phoenix Home Prices Hot, Hotter, and Hottest - 04/01/21 12:07 PM
The S&P Case-Shiller National Home Price Index posted its highest gain in nearly 15 years with a year-over-year home price growth rate of 11.20 percent in January. The December 2020  National Home Price Index reported 10.40 percent home price growth. The S&P Case-Shiller 20-City Home Price Index reported 11.10 percent year-over-year growth with 19 of 20 cities reporting higher home prices. Cleveland, Ohio was the only city reporting no home price growth in January. Detroit, Michigan reported home price growth data for the first time in nearly a year.
Phoenix, Seattle, and San Diego Home Prices are Hot, Hotter, and Hottest
Home prices … (0 comments)

financial reports: What's Ahead For Mortgage Rates This Week - March 29, 2021 - 03/29/21 02:12 PM
Last week’s economic news included readings on sales of new and previously-owned homes along with final March index readings on consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released.
Sales of New and Pre-Owned Homes Fall in February
Weather-related problems disrupted sales of new and previously-owned homes in February as low inventories of homes for sale further stalled sales. The National Association of Realtors® said that sales of new and pre-owned homes were slowed by persistent shortages of homes on the market.
Shortages of available homes were common before the pandemic and are more pronounced now. Realtor.com estimates that … (0 comments)

financial reports: What's Ahead For Mortgage Rates This Week - March 22, 2021 - 03/23/21 11:07 AM
Last week’s economic reports included readings from the National Association of Home Builders on housing markets and Commerce Department data on housing starts and building permits issued. Weekly reports on mortgage rates and jobless claims were also released.
NAHB: Builder Confidence Slips as Materials Costs Rise
The National Association of Home Builders reported that its Housing Market Index fell to an index reading of 82 in March as compared to February’s index reading of  84. Analysts forecasted a reading of 83. Builder concerns included rising materials costs and mortgage rates, which impact home pricing and affordability.  Robert Dietz, Chief Economist for NAHB, … (0 comments)

financial reports: What's Ahead For Mortgage Rates This Week - March 15, 2021 - 03/15/21 02:14 PM
Last week’s economic reporting included data on inflation and job openings, and weekly readings n mortgage rates, and jobless claims.
Inflation Rate Rises in February
Consumer prices grew by 0.40 percent in February according to the federal government’s Consumer Price Index; the year-over-year inflation rate rose from January’s reading of 1.40 percent to 1.70 percent. Consumer prices rose at their fastest pace in six months as rising fuel prices caused the jump in consumer prices. The Core Consumer Price Index, which does not include volatile food and fuel sectors, rose by 0.10 percent in February and matched analysts’ expectations.
Analysts expect continued economic expansion … (0 comments)

financial reports: What's Ahead For Mortgage Rates This Week - March 8, 2021 - 03/09/21 09:46 AM
Last week’s scheduled economic news included readings on construction spending and labor sector reports on public and private sector jobs. The national unemployment rate was published along with weekly readings on mortgage rates and jobless claims. Federal Reserve Chair Jerome Powell also spoke at a jobs summit.
Construction Spending Rises in January
U.S construction spending rose at a seasonally-adjusted annual pace of 1.70 percent in January as compared to 1.10 percent growth reported in December. Year-over-year construction spending was 5.80 percent higher in January 2021.  Residential construction spending reported in January rose to $713 billion on a seasonally-adjusted annual basis as compared … (1 comments)

financial reports: What's Ahead For Mortgage Rates This Week - February 22, 2021 - 02/23/21 06:26 AM
Last week’s economic reporting included readings from the National Association of Home Builders Housing Market Index, Commerce Department readings on housing starts and building permits issued along with data on sales of previously-owned homes. Weekly readings on mortgage rates and jobless claims were also released.
NAHB: Home Builders Index Rises One Point in February
Homebuilder confidence rose by one index point to 84 according to the National Association of Home Builders Housing Market Index. Readings over 50 in the Housing Market Index indicate that most homebuilders are confident about U.S. housing market conditions.
Component readings for the housing market index were mixed in February. … (0 comments)

financial reports: What's Ahead For Mortgage Rates This Week - February 15, 2021 - 02/16/21 07:37 AM
Last week’s scheduled economic reporting included readings on inflation, Federal Reserve Chair Jerome Powell’s speech on U.S. labor markets, and weekly readings on mortgage rates and jobless claims.
Oil Prices Push Inflation Higher in January
Rising oil and gasoline prices drove a jump in January’s consumer price index. Inflation rose 0.30 percent month-to-month, which matched analysts’ expectations. The year-over-year inflation rate rose to 1.40 percent but remained lower than the pre-pandemic annual pace of 2.30 percent. The core inflation rate, which excludes volatile food and energy sectors, was unchanged in January.
Some analysts expect stronger inflation throughout 2021 due to the impact of … (0 comments)

financial reports: What's Ahead For Mortgage Rates This Week - February 8, 2021 - 02/08/21 07:29 AM
Last week’s economic news included Commerce Department readings on construction spending, labor sector reporting on public and private-sector job growth, and the national unemployment rate. Weekly reports on mortgage rates and jobless claims were also released.
Construction Spending Driven by Housing Sector in December
The Commerce Department reported a one percent gain in construction spending in December to a seasonally-adjusted annual pace of $1.49 trillion. Residential construction drove spending for the seventh consecutive month with a 3.10 percent gain in spending. Construction for public projects rose by 0.50 percent; private-sector spending on non-residential construction fell by -1.70 percent.
Demand for housing remained high as … (1 comments)

financial reports: What's Ahead For Mortgage Rates This Week - February 1, 2021 - 02/01/21 01:46 PM
Last week’s economic reports included readings from S&P Case-Shiller Home Price Indices, readings on new and pending home sales,  and the University of Michigan’s Consumer Sentiment Index. Weekly reports on mortgage rates and jobless claims were also published.
S&P Case-Shiller Home Price Indices: Home Prices Rose Faster in November
The Case-Shiller National Home Price Index showed that November home prices grew by 9.50 percent on a seasonally-adjusted annual basis. October’s reading showed 8.40 percent home price growth; analysts expected a year-over-year pace of  8.80 percent for national home price growth.
Severe shortages of available homes coupled with high demand for homes continued to … (0 comments)

financial reports: Case-Shiller: Home Prices Continue Rising in November - 01/29/21 11:26 AM
Case-Shiller Home Price Indices reported a year-over-year national home price gain of 9.50 percent for November 2020. Home prices continued to grow in response to high demand for homes and homeowner relocations in response to the covid-19 pandemic. Inventories of pre-owned homes remained low. Home prices rose at a slower pace in November but remained strong in most areas.
20-City Home Price Index Reports Home Price Gains in 19 of 20 Cities
November’s edition of the 20-City Home Price Index reported the highest year-over-year home price gain of 13.80 percent in Phoenix, Arizona, which held first place for the 18th consecutive month. … (0 comments)

financial reports: What's Ahead for Mortgage Rates This Week - January 19 2021 - 01/19/21 11:03 AM
Last week’s economic reports included readings on inflation, retail sales, and a speech by Federal Reserve Chair Jerome Powell. Weekly readings on mortgage rates and jobless claims were also released.
 Inflation Rises as Retail Sales Fall, Fed  Says Current Monetary Policy Won’t Change
The Consumer Price Index rose to 0.40 percent in December as compared to November’s reading of 0.20 percent. The CPI measures inflation and the Core CPI measures inflation without the volatile sectors of food and fuel. December’s Core CPI reading fell to a rate of 0.10 percent growth from November’s reading of 0.20 percent.
Retail sales were dampened by the … (0 comments)

financial reports: What's Ahead For Mortgage Rates This Week - January 11, 2021 - 01/11/21 09:45 AM
Last week’s economic reports included readings on construction spending and reports on the national unemployment rate and job growth. Weekly reporting on mortgage rates and jobless claims were also published.
Construction Spending Increases as Demand for Homes Rises
Homebuilders responded to increased demand for single-family homes and increased their spending in November. Construction spending rose by 0.90 percent as compared to projected spending of 1.10 percent and  1.60 percent growth in November. Demand for homes increased in recent months due to the coronavirus pandemic. Homeowners left urban areas and bought larger homes in suburban and rural areas. Low mortgage rates, flight from … (0 comments)

financial reports: What's Ahead For Mortgage Rates This Week - December 28, 2020 - 12/28/20 09:33 AM
Last week’s economic news included readings on sales of new and previously-owned homes and consumer sentiment. Weekly average mortgage rates were also released, but readings for jobless claims were not released due to the Christmas holiday.
Single-Family Home Sales Fall in November
Sales of new and previously owned homes were lower in November. Fear of rising covid-19 cases and the usual slump in home sales during the winter holidays contributed to fewer home sales. Rapidly rising home prices cooled buyer interest; short supplies of pre-owned homes for sale drove prices of new homes higher as demand increased.
Inventory of new homes increased by … (0 comments)

financial reports: What's Ahead For Mortgage Rates This Week - December 14, 2020 - 12/14/20 11:24 AM
Last week’s scheduled economic reporting included readings on inflation and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released.
Inflation Rate Rises in November
Inflation rose by 0.20 percent in November according to the federal government, but this reading fell short of the Federal Reserve’s goal of achieving 2.00 percent inflation annually. November’s year-over-year inflation rate was 1.20 percent. October’s inflation reading was flat and analysts expected inflation to grow by 0.10 percent in November.
Core inflation, which excludes volatile food and fuel sectors, showed readings identical to the Consumer Price Index reading. November’s Core Consumer Price Index was … (0 comments)

financial reports: Case-Shiller: Home Price Growth Rate Increases in July - 10/01/20 08:06 AM
Home price growth fueled by high demand for single-family homes was higher in July according to Case-Shiller’s National Home Price Index. Analysts said that millennial's seeking to purchase homes and the continued exodus from large urban areas propelled rising home prices. Home prices grew fastest in the West and Southeastern regions.
While home prices grew moderately before the pandemic, high unemployment has not impeded rapid home price growth since the pandemic. Low mortgage rates and more demand for homes overcame consumers’ concerns about jobs and the economy. Analysts said that rapidly rising home prices could benefit homeowners struggling with mortgage payments … (1 comments)

financial reports: What's Ahead For Mortgage Rates This Week - September 28, 2020 - 09/28/20 10:57 AM
Last week’s economic news included readings on new and existing home sales and Fed Chair Jerome Powell’s testimony on changing the Fed’s business loan policy. Weekly readings on mortgage rates and jobless claims were also released.
Sales of New and Pre-Owned Homes Rise In August
New homes sold at a seasonally-adjusted annual pace of 1.01 million sales; analysts expected the sales pace to fall to 900,000 sales from July’s reading of 965,000 new home sales. Homebuyers turned to new homes as the supply of pre-owned homes dwindled. Homeowners stayed put as fears over COVID-19 contagion limited sales.
Pre-owned homes sold at a seasonally-adjusted … (0 comments)

financial reports: What's Ahead For Mortgage Rates This Week - September 21, 2020 - 09/21/20 08:40 AM
Last week’s economic news included readings on housing market conditions, housing starts, building permits issued, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released.
National Association of Home Builders Reports Record High Builder Confidence
The NAHB reported record high builder confidence in housing market conditions. The Housing Market Index had an index reading of 83 in September as compared to August’s reading of 78. Analysts said that this builder confidence reading was notable due to rising costs for building materials.
Component readings of the NAHB Housing Market Index also rose in September. Builder confidence in current single-family housing … (0 comments)

 
Bob Elliot, 20+ Yrs Industry Experience (eXp Realty)

Bob Elliot

20+ Yrs Industry Experience

Minneapolis, MN

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eXp Realty

Address: 15451 Founders Lane, Apple Valley, MN, 55124

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