Real estate blog entries tagged with mortgage rate outlook by Bob Elliot, 20+ Yrs Industry Experience (eXp Realty)

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mortgage rate outlook: What's Ahead For Mortgage Rates This Week - January 21st, 2020 - 01/21/20 01:19 PM

Last week’s economic reports included the National Association of Home Builders Housing Market Index along with readings on consumer sentiment and weekly reports on mortgage rates and new jobless claims.
NAHB: Builder Confidence d in Housing Markets Drops 1 Point in January
Homebuilder confidence in overall housing market conditions dropped one point in January, but analysts said that a new trade deal would likely benefit builder interests. The National Association of Home Builders Housing Market Index dropped to an index reading of 75 from December’s reading of 76; December’s reading was the highest since 1999.
The reading for builder confidence in January 2019 was … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - December 30th, 2019 - 12/30/19 07:58 AM

Last week’s economic reports were limited due to the Christmas holiday. New home sales data was released along with a weekly reading on mortgage rates.
Census Bureau: New Home Sales Hit Highest Level Since 1999
Mortgage rates below 4.00 percent propelled the highest number of new homes sold since 1999. 719,000 new homes were sold on a seasonally-adjusted annual basis in November.
Analysts expected November sales of new homes to reach 740,000 sales based on October’s original reading of 733,000 sales, but this reading was later revised to 710,000 sales.
New home sales reported are based on a narrow range of data and subject to … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - December 2nd, 2019 - 12/02/19 09:14 AM

Last week’s economic news included readings from Case-Shiller Home Price Indices, readings on new and pending home sales and weekly readings on mortgage rates and new jobless claims. The holiday break on Thursday and Friday curtailed some economic reports.
Case-Shiller Reports Uptick in September Home Prices
Home prices rose 0.10 percent to a year-over-year growth rate of 3.20 percent in September. Rates of home price growth showed a new geographic trend with smaller cities showing higher home price growth than the coastal cities that dominated rapid home price growth in recent years. Homebuyers seeking affordable options turned inland and southward where home prices … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - October 15th, 2019 - 10/15/19 03:30 PM

Last week’s economic releases included readings on inflation, an essay from Dallas Federal Reserve President Robert Kaplan and the monthly consumer sentiment index. Weekly reports on mortgage rates and new jobless claims were also released.
Inflation Flat in September
Inflation did not change in September; August’s reading showed 0.10 percent growth, which matched the July reading. Falling gasoline prices caused the flat reading. Analysts said that cooling inflation may prompt Federal Reserve policymakers to cut the target Federal Funds interest rate range at their next meeting.
The core inflation rate, which excludes volatile food and fuel sectors rose 0.10 percent in September; analysts expected … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - October 7th, 2019 - 10/07/19 09:30 AM

Last week’s economic news included readings on construction spending, and labor reports on public and private sector jobs and the national unemployment rate. Weekly reports on new jobless claims and mortgage rates were also released.
Construction Spending Ticks Up in August
Commerce Department reporting on construction spending showed 0.10 percent growth in August as compared to a revised flat reading for July. Construction spending hit a seasonally-adjusted annual rate of $1.29 trillion for August. Analysts expected 0.40 percent growth, which was based on the original July reading of 0.10 percent growth.
Residential construction spending rose 0.90 percent in August ; public construction spending rose … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - September 30th, 2019 - 09/30/19 09:17 AM

Last week’s economic reports included readings from Case-Shiller on home prices along with data on new and pending home sales. Weekly readings on mortgage rates and initial jobless claims were also released.
Case-Shiller: Home Price Gains Slow to Lowest Pace in 7 Years
Case-Shiller Home Price Indices reported slower home price growth in July with 3.20 percent growth year-over-year. There was no change in July’s reading for the 20-City Home Price Index as compared to June after seasonal adjustments.
The top-three cities in Case-Shiller’s 20-City Home Price Index were Phoenix, Arizona with 5.80 percent home price growth year-over-year. Las Vegas, Nevada reported 4.70 percent … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - September 23rd, 2019 - 09/23/19 07:06 AM

Last week’s economic reports included readings from the National Association of Home Builders on housing market conditions, Commerce Department reports on Housing starts and building permits issued and the National Association of Realtors® report on sales of previously owned homes.
The Fed reduced its key interest rate and weekly reports on mortgage rates and first-time jobless claims were also released.
Builder Confidence in Housing Market Improves, Sales of Pre-Owned Homes Rise
The National Association of Home Builders Housing Market Index rose one point to an index reading of 68 in September. August’s reading was adjusted to 67 from an initial reading of 66. September’s … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - September 16th, 2019 - 09/16/19 10:16 AM

Last week’s economic news included readings on inflation, core inflation and consumer sentiment. Weekly reports on mortgage rates and first-time jobless claims were also released.
Lower Gas Prices Dampen August Inflation Rate
Consumer prices fell in August; analysts attributed the decline to lower gasoline prices. August’s reading matched expectations, but was 0.20 percent lower than July’s reading. The Core Consumer Price Index, which excludes volatile food and fuel sectors, rose by 0.30 percent and matched July’s reading.
Analysts expected an August core inflation reading of 0.20 percent. Rising housing and healthcare costs indicated that overall inflation would rise in coming months. Core inflation rose … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - September 9th, 2019 - 09/09/19 10:08 AM

ast week’s economic reports included readings on construction spending, public and private-sector jobs and the national unemployment rate. Weekly reports on mortgage rates and first-time jobless claims were also released.
Construction Spending Rises in August
Construction spending rose 0.10 percent higher than in July according to the Commerce Department. Analysts expected construction spending to increase by 0.60 percent based on June’s reading of -0.70 percent. Construction spending was -2.70 percent lower year-over-year based on revisions to data going back to 2008.
Construction spending was impacted by multiple factors including costs of labor and building materials and inclement weather in some areas of the United … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - September 3rd, 2019 - 09/03/19 08:18 AM

Last week’s economic news included readings on home price trends, pending home sales and weekly readings on average mortgage rates and first-time jobless claims. The University of Michigan also released consumer sentiment report.
Case-Shiller Reports Slower Home Price Growth in June
According to Case-Shiller Home Price Indices for June, home prices gained an average of 2.10 percent year-over-year. This was the slowest growth of home prices since 2012. Analysts said that home prices grew at one-third the 6.30 percent that home prices grew last year.
Home prices grew fastest in Phoenix, Arizona with year-over-year growth of 5.80 percent; Las Vegas, Nevada home prices rose … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - August 26th, 2019 - 08/26/19 08:11 AM

Last week's economic news included readings from the National Association of Home Builders Housing Market Index and July readings on housing starts and building permits issued. Weekly readings on initial jobless claims and mortgage rates were also released.
NAHB: Home Builder Sentiment Remains High
According to the National Association of Home Builders, builder confidence in housing market conditions rose one point to an index reading of 66 for August. Housing Market Index readings showed that builder sentiment has held steady with readings of 64 to 66; any reading over 50 indicates positive builder sentiment.
Analysts said that despite strong readings for builder confidence … (0 comments)

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)

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