mortgage rate outlook: What's Ahead For Mortgage Rates This Week - August 12th, 2019 - 08/12/19 08:19 AM
Last week's economic releases included readings on consumer credit, job openings and weekly reports on mortgage rates and first-time jobless claims.  
Consumer Credit Use, Job Openings Slow in June
Consumer credit use slowed in June as credit card use lost ground. Non-revolving credit, which typically includes education and auto loans, grew at its slowest pace in three months. Mortgage loans are not included in the Federal Reserve's report on consumer credit. Consumer credit use grew by $14.6 billion year-over-year in June as compared to May's year-over-year reading of $16.0 billion.
Year-over-year credit use fell one percent in June to 4.30 as compared to May's … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - July 29th, 2019 - 07/29/19 08:28 AM
Last week's economic reports included readings on sales of new and pre-owned homes and weekly reports on mortgage rates and first-time jobless claims. 
Realtors® Report Sales of Pre-Owned Homes Fall in June 
Sales of previously-owned homes fell last month according to real estate pros. 5.27 million homes would be sold in 2019 if the current pace of sales was unchanged for all of 2019. Analysts expected a reading of 5.33 million sales based on May's reading of 5.38 million sales. Analysts said that sales of pre-owned homes fell despite lower mortgage rates and the seasonal peak home-buying season.
Sales of pre-owned homes rose 1.60 … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - July 15th, 2019 - 07/15/19 12:58 PM
Last week's economic releases included reports on inflation, core inflation and minutes from the Federal Open Market Committee Meeting held June 18 and 19. Weekly readings on mortgage rates and first-time jobless claims were also released.
Inflation Rate Rises, but Grows at Lowest Pace in Four Months
June's Consumer Price Index reported the lowest rate of inflation in four months with a year-over-year rate of 1.60 percent growth as compared to May's year-over-year inflation rate of 1.80 percent. Fuel prices were lower, which helped balance rising costs of rent, clothing and autos. Analysts said that falling inflation rates would be a primary reason why … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - July 8th, 2019 - 07/08/19 11:18 AM
Last week's scheduled economic news included readings on construction spending and reports on public and private sector  jobs. Monthly readings for public and private sector jobs and the national unemployment rate were released along with weekly reports on mortgage rates and initial jobless claims.
Construction Spending Dips in May
May construction spending fell to a seasonally-adjusted annual rate of 0.80 percent growth at a pace of $1.3 trillion as compared to April's reading, which was adjusted to 0.40 percent growth after reports of a flat reading. Year-over-year construction spending  was 2.30 percent lower in May.
High materials costs and shortages of workers continued to … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - June 24th, 2019 - 06/25/19 08:33 AM
Last week's economic reports included monthly readings on housing market conditions, housing starts and building permits issued. Sales of pre-owned homes were released; the Federal Reserve announced its decision not to raise its key interest rate range. Weekly reports on mortgage rates and new jobless claims were also released.
NAHB: Home Builder Confidence Slips in June
The National Association of Home Builders Housing Market Index for June showed builder confidence was two points lower at an index reading of 64. Builders surveyed said ongoing concerns such as lot and labor shortages impacted their outlook, but builders were also concerned over the impact of … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - June 17th, 2019 - 06/17/19 11:31 AM
Last week's economic reports included readings on inflation, retail sales and consumer sentiment. Weekly readings on mortgage rates and first-time jobless claims were also released.
Consumer Price Index Lower in May as Retail Sales Hold Steady
Last month's Consumer Price Index, which is a widely-used gauge of inflation, dropped to 0.10 percent in May and matched expectations. April posted month-to-month growth of 0.30 percent. Core inflation, which excludes volatile food and fuel sectors, rose 0.10 percent in May and fell short of expectations of 0.20 percent growth.
April's Core Consumer Price Index grew by 0.10 percent. Analysts reported a likely slowdown in economic expansion … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - June 10th, 2019 - 06/10/19 10:36 AM
Last week's economic releases included readings on construction spending, public and private sector jobs and national unemployment. Weekly reports on mortgage rates and first-time unemployment claims were also released.
Construction Spending Little Changed in April 
Census Bureau readings for April showed a minor dip in construction spending as compared to revised figures for March. $1,295.5 billion was spent on a seasonally-adjusted annual basis and missed the expected reading of $1,314.7 billion.
March construction spending was revised to $1,299.2 billion. Falling mortgage rates were good news for home buyers, but concerns over global economic disputes and higher materials prices concerned home builders.
Mortgage Rates Fall as … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - June 3rd, 2019 - 06/03/19 10:13 AM
Last week's economic news included readings from Case-Shiller on home prices and pending home sales. Readings on consumer confidence and weekly reports on mortgage rates and new jobless claims were also released. 
Case-Shiller: Home Price Growth Slows in March
While home prices continue to rise throughout the U.S., they are growing at a slower pace. Case-Shiller reported that Home prices dropped 0.20 percent in March to a growth rate of 3.70 percent on a seasonally-adjusted annual basis. Case-Shiller said that March home price growth was the lowest rate reported in 10 years.
Top cities for home price growth in March were Last Vegas, Nevada … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - May 28th, 2019 - 05/28/19 04:44 PM
Last week's economic news included readings on sales of new and pre-owned homes; weekly readings on mortgage rates and first-time jobless claims were also released.
Sales of New and Pre-Owned Homes Lower in April
Sales of brand-new homes fell nearly seven percent in April according to Commerce Department reports. Analysts noted that March sales of new homes were revised upward, which contributed to the difference between March and April readings. 673,000 new homes were sold in April on a seasonally adjusted annual basis. Analysts expected a reading of 670,000 sale of new homes; this reading was based on the initial March reading which … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - May 20th, 2019 - 05/20/19 08:44 AM
Last week's economic reports included readings from the National Association of Home Builders on housing market conditions, housing starts and building permits issued. Consumer sentiment was reported along with weekly readings on mortgage rates and new jobless claims. 
NAHB: Builder Confidence Rises in May, Housing Starts Increase in April
The National Association of Home Builders Housing Market Index posted its highest reading in seven months in May as headwinds facing home construction waned. Lower mortgage rates were a positive sign. May's reading rose three points to 66; component readings also rose.
The index of builder confidence in current housing market conditions rose three points to … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - May 13th, 2019 - 05/13/19 09:26 AM
Last week's economic news included readings on job openings and inflation. Weekly reports on mortgage rates and first-time jobless claims were also released. 
April Inflation Falls Short of Expectations
The Consumer Price Index for April fell by 0.10 percent to 0.30 percent. Analysts expected a reading of 0.40 percent, which hatched the March reading. The Core Consumer Price Index excludes volatile food and fuel sectors; core inflation grew by 0.10 percent in April, which matched the March reading and fell short of the expected growth rate of 0.20 percent.
The Federal Reserve has set an annual inflation rate of 2.00 percent as a benchmark … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - May 6th, 2019 - 05/06/19 06:03 AM
Last week's economic news brought good news to U.S. consumers on several fronts. Mortgage rates fell and national unemployment fell to its lowest rate in 50 years. Inflation slowed and the Federal Reserve held its target federal funds rate steady.
Freddie Mac analysts credited strong labor markets, high consumer confidence and falling mortgage rates as factors setting the stage for more home sales.
Pending Home Sales Rise as Construction Spending Falls
The National Association of Realtors® reported higher pending home sales in March; home sales under contract but not completed rose 3.89 percent in March as compared to February's negative reading of -1.00 percent … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - April 29th, 2019 - 04/29/19 10:06 AM
Last week's economic reporting included readings on sales of new and pre-owned homes; weekly reports on mortgage rates and new jobless claims were also released along with a report on consumer sentiment.
Sales of New Homes Hit 16-Month High
The Commerce Department reported that deep discounts offered by home builders boosted sales of new single-family homes to 692,000 sales on a seasonally-adjusted annual basis.
March sales exceeded February's reading by 4.50 percent and exceeded the expected sales pace of 656,000 sales. The average price of new single family homes fell to $302,700 in March; this was 9.70 percent lower year-over-year.
Real estate pros reported higher … (0 comments)

mortgage rate outlook: What’s Ahead For Mortgage Rates This Week – April 22nd, 2019 - 04/22/19 10:00 AM
Last week's economic news included readings on home builder confidence in housing market conditions and Commerce Department reports on housing starts and building permits issued. Weekly readings on mortgage ratees and first-time jobless claims were also released. 
NAHB Housing Market Index: Builder Confidence Rises One Point in April
Home Builder Confidence readings posted by the National Association of Home Builders held steady for April and rose one point overall. Component readings for the NAHB Housing Market Index were mixed; builder confidence in current housing market conditions rose one point to an index reading of 69, but builder confidence in housing market conditions in … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - April 14th, 2019 - 04/15/19 03:04 PM
Last week's economic readings included reports on inflation, mortgage rates, and first-time jobless claims. Monthly reporting on consumer sentiment was delayed.
Consumer Price Index: Inflation Rises in March
The Consumer Price Index rose 0.40 percent in March, which matched expectations and surpassed February's month-to -month reading of 0.20 percent growth. The March reading showed the highest consumer price growth in 14 months; higher rents, fuel and food prices contributed to month-to-month price gains in March.
The Core CPI excludes volatile food and energy sectors and was unchanged in March although 0.20 percent growth was expected. February's reading showed 0.10 percent growth. Inflation increased 1.90 … (3 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - April 8th, 2019 - 04/08/19 11:27 AM
Last week's economic news included readings on construction spending and inflation; labor sector reports on the national unemployment rate, public and private sector employment were also released. Weekly readings on mortgage rates and new jobless claims were also released.
Construction Spending Rises, Retail Sales Slip
Construction spending expanded by one percent in February according to the Commerce Department spending was one percent higher month-to-month; analysts expected a negative reading of -0.10 percent. February saw a revised gain of 2.50 percent growth in construction spending.
Construction spending grew 1.10 percent year-over-year; by comparison, 2016 construction spending reached 10 percent year-over-year. High demand for homes and lower … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - April 1st, 2019 - 04/01/19 07:21 AM
Last week's economic reports included readings from Case-Shiller on home price growth, Commerce Department readings on housing starts and building permits issued. The Conference Board issued its monthly reading on consumer confidence. Pending home sales and weekly reports on mortgage rates and first-time jobless claims were also released.
Case-Shiller Home Price Indices: Price Growth Slows in January
S&P Case-Shiller Indices reported the slowest rate of home price growth in six years. January readings suggested that home price growth slowed due to easing demand. Affordability concerns sidelined buyers; participation of first-time home buyers remained lower than average.
Case-Shiller's 20-City Home Price Index charted its third … (2 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - March 25th, 2019 - 03/25/19 09:43 AM
Last week's economic news included readings from the National Association of Home Builders, Federal Reserve Federal Open Market Committee and a press conference by Fed Chair Jerome Powell.
Sales of pre-owned homes in February were reported along with weekly readings on mortgage rates and new jobless claims.
NAHB: Builder Confidence Unchanged Despite Headwinds
Home builders remained confident about housing market conditions in March. The NAHB Housing Market Index posted a reading of 62, which matched February's reading and fell one point short of expectations. NAHB Index readings above 50 represent a positive outlook on housing market conditions.
Home builders continued to face obstacles including high … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - March 18th, 2019 - 03/18/19 08:12 AM
Last week’s economic reports included readings on retail sales, inflation and construction spending. New home sales Consumer sentiment readings were posted along with weekly readings on mortgage rates and first-time jobless claims.
Retail Sales Increase after Lowest Reading in 10 Years
Retail sales rose by 0.20 percent in January; analysts expected an increase of 0.10 percent based on December’s negative revised reading of -1.60 percent. Home centers and internet retailers led in overall sales; retail sales without the automotive sector were higher with an 0.90 percent increase in January, which exceeded expectations of an 0.40 percent increase.
December had a negative reading of –2.10 … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - March 4th, 2019 - 03/04/19 08:57 AM
Last week's economic reports included readings from Case-Shiller Housing Price Indices and Commerce Department reports on housing starts and building permits issued.
Readings on pending home sales and consumer confidence were released along with weekly reports on mortgage rates and initial jobless claims.
Case-Shiller Home Price Growth Slows to Lowest Rate in Four Years
Home prices continued to grow in December but reached their slowest pace since November2014. Seasonally-adjusted annual home price growth reached 4.70 percent in December as compared to growth of 5.10percent year-over-year in November.
Analysts cited high home prices, and slim inventories of available homes, although demand for homes eased in some … (0 comments)

 
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Bob Elliot

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Edina, MN

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