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 - November 13th, 2018 - 11/14/18 07:14 AM

Last week's scheduled economic news was slim last week. The Federal Open Market Committee of the Federal Reserve issued its post-meeting statement, weekly readings on average mortgage rates and first-time jobless claims were also issued.
FOMC: Fed Target Rate Unchanged, but Expected to Rise in December
The Federal Open Market Committee of the Federal Reserve announced that it did not raise the target federal funds rate but set the stage for raising the benchmark rate n coming months. The current range for the Fed rate us 2.00 percent to 2.00 to 2.25 percent. The Fed expects to increase rates three times in 2019 provided … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - November 5th, 2018 - 11/05/18 09:34 AM

Last week's economic news included readings for Case-Shiller Home Price Indices, Commerce Department readings on construction spending and the University of Michigan's reading on consumer confidence. Labor sector reports on jobs growth and the national unemployment rate were posted along with weekly readings on mortgage rates and first-time jobless claims.
Case-Shiller: Home Price Growth Lowest in 20 Months; Construction Spending Falls
Home price growth hit its lowest pace in 20 months according to Case=Shiller's 20-City Home Price Index for August. Home prices grew by 5.80 percent year-over-year as compared to July's growth rate of 6.00 percent.
Analysts said that slowing growth of home prices … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - October 15th, 2018 - 10/15/18 09:05 AM

Last week's economic reports included releases on inflation, consumer sentiment. Weekly readings on mortgage rates and new jobless claims were also released.
Inflation and Consumer Sentiment Dip
The Commerce Department reported slower growth in inflation for September. The Consumer Price Index for September showed a growth rate of 0.10 percent. Analysts projected a reading of 0.20 percent growth, which was based on August's reading of 0.20 percent.
This was the sixth consecutive month-to-month increase in the inflation rate. Year-over-year, inflation has grown 2.30 percent as compared to the prior year-over-year rate of 2.70 percent.
Analysts said that rising rents and homeownership costs drove consumer prices … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - October 8th 2018 - 10/08/18 10:10 AM

Last week's economic reports included readings on construction spending and labor reports on public and private-sector job growth. The national unemployment rate was released along with weekly reports on mortgage rates and weekly jobless claims.
Construction Spending dips in September, but Residential Construction Spending Rises
Construction spending rose 0.10 percent in September, but residential construction spending fell 0.70 percent month-to-month. Construction spending was 4.10 percent higher year-over-year. January through August construction spending was 5.30 percent higher than for the same period in 2017.
Analysts estimated a shortage of approximately four million homes; which accentuates demand and drives prices up. In recent years, builders have concentrated … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - September 10th, 2018 - 09/10/18 06:59 AM

Last week's economic news included readings on construction spending, along with public and private-sector jobs growth. The national unemployment rate, weekly reports on mortgage rates and new jobless claims were also released.
Construction Spending Rises in July
July construction spending ticked up to 0.10 percent from June's negative reading of -0.80 percent. Year-over-year, construction spending was 5.80 percent higher than for July 2017.Public-sector construction accounted for most of the growth and increased by 0.70 percent as private-sector construction projects decreased by -0.10 percent.
Month-to-month spending readings can be volatile, but analysts said that construction spending for the first seven months of 2018 were up … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - August 20th, 2018 - 08/20/18 08:01 AM

Last week's economic reports included readings from the National Association of Home Builders and Commerce Department releases on Housing Starts and Building Permits issued. Weekly readings on mortgage rates and first-time jobless claims were released, along with a monthly report on consumer sentiment.
NAHB: Home Builder Housing Market Index Drops 1 Point
August's reading for the National Association of Home Builders Housing Market Index dropped one point to 67. This was the lowest reading for home builder confidence in housing market conditions in 11 months. Analysts said that trade wars are causing concern among builders due to higher costs for building materials. … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - August 13th, 2018 - 08/13/18 07:03 AM

Last week's economic reports included readings on job openings and inflation along with weekly readings on mortgage rates and new jobless claims.
Job Openings Hit Third Highest Reading on Record
Job openings held steady at 6.70 million in June, which was the third highest reading since reporting started in 2000.
Analysts said that the high number of job openings combined with low unemployment rates indicates healthy labor markets. Fewer jobs were available in transportation, utilities and warehousing, but jobs in education increased.
Job quits remained at 2.20 percent for the fourth consecutive month. Quits are considered an indicator of worker confidence in job markets.
Inflation Inches … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - July 31st, 2018 - 07/31/18 09:11 AM

Last week's economic readings included reports on sales of new and pre-owned homes, mortgage rates and first-time jobless claims.
New Home Sales Slide; Pre-owned Home Sales Meet Expectations
Commerce Department reported lower sales of new homes in June. Sales were expected to reach 666,000 sales on a seasonally adjusted annual basis, but the actual reading slipped by 5.30 percent to a pace of 631,000 new home sales. Analysts cited higher building costs, home prices and mortgage rates sidelined some buyers.
Concerns over inadequate inventories of available homes also impacted sales of newly-built homes. New homes sold at a rate 6.90 percent higher year-over-year, but … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - July 23rd, 2018 - 07/23/18 01:24 PM

Last week’s scheduled economic releases included readings from the National Association of Home Builders and Commerce Department readings on housing starts and building permits issued. Weekly readings on mortgage rates and new jobless claims were also released
NAHB Housing Market Index Unchanged in July
The National Association of Home Builders Housing Market Index held steady in July despite concerns connected with tariffs on building materials. Analysts said that high demand for homes continued to fuel builder confidence in housing market conditions, but some analysts said that housing market conditions may be at or near peak.
Builder confidence in current market conditions was unchanged with … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - July 16th, 2018 - 07/16/18 07:13 AM

Last Week's economic readings included reports on inflation, mortgage rates, new jobless claims and consumer sentiment.
Inflation Slows in June
The Consumer Price Index for June inched down to 0.10 percent growth in June as compared to May's reading of 0.20 percent. Core inflation, which excludes volatile food and energy prices, rose 0.20 percent, which matched expectations and May's reading of 0.20 percent.
Year-over-year inflation rose by 2.90 percent. This was the highest rate of growth in six years. Inflation increased by a year-over-year rate of 1.60 percent in the prior year.
While inflationary growth signals strengthening economic conditions, it can also cause challenges for … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - July 9th, 2018 - 07/09/18 07:47 AM

Last week's economic releases included monthly readings on construction spending, public and private sector job growth and June's national unemployment rate. Weekly readings included Freddie Mac mortgage rates and new jobless claims.
Construction Spending Rises in May
According to the Commerce, construction spending rose 0.40 percent in May; public sector construction spending rose 0.70 percent and private sector spending rose by 0.30 percent. Residential construction rose by o.80 percent, which analysts regarded as a good sign for the economy. Building more homes has long been identified as the only solution for persistent housing shortages that cause high demand for homes and rapidly rising … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - June 18th, 2018 - 06/18/18 07:46 AM

Last week's economic reports included the post-meeting statement by the Fed's Federal Open Market Committee along with readings on retail sales and inflation. Weekly reports on mortgage rates and new jobless claims were also released.
Fed Raises Key Interest Rate on Strong Economic Indicators
The post-meeting announcement by the Federal Open Market Committee of the Federal Reserve indicated that committee members voted to raise the target federal funds rate to 0.175 to 2.00 percent from the prior rate of 1.50 to 1.75 percent.
The post-meeting announcement cited strong economic conditions and stated that FOMC had altered their outlook from three rate increases in 2018 … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - June 11th, 2018 - 06/11/18 11:16 AM

Last week’s economic reports included analyst assertions that U.S. housing markets are overvalued in over 50 percent of markets. Weekly reports on mortgage rates and first-time jobless claims were also released.
CoreLogic: Over Half of Top 50 U.S. Housing Markets Overvalued
Rapidly rising home prices are causing some U.S. markets to be overvalued, which means that home prices are higher than a community’s ability to sustain. What goes up must come down in such scenarios, but home prices continue to grow in many areas.
While Boston, Massachusetts and San Francisco, California continued to see rapidly rising home prices, analysts said that residents of the … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - June 4th, 2018 - 06/04/18 07:55 AM

Last week's economic reports included readings on Case-Shiller home prices, pending home sales and construction spending. Weekly readings on mortgage rates and new jobless claims were released, along with monthly labor-related reports on job creation and the national unemployment rate.
Case-Shiller: Home Prices Maintain Rapid Growth
S&P Case-Shiller home price indices for March showed home prices continued to grow at blazing rates. Seattle, Washington held on to first place with a seasonally-adjusted annual rate of 13.00 percent; Las Vegas, Nevada reported 12.40 percent growth in home prices in March.
Analysts said Las Vegas markets benefitted from homebuyers relocating from high-priced coastal areas. Las Vegas … (2 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - May 29th, 2018 - 05/29/18 06:40 AM

Last week's economic reports included readings on sales of new and previously-owned homes along with weekly readings on mortgage rates and new jobless claims.
Home Sales Lower in April
Sales of new and previously-owned homes were lower in April. The Commerce Department reported sales of new homes at a seasonally-adjusted annual rate of 662,000 sales. New home sales were 1.50 percent lower than for March, but were11.60 percent higher year-over-year.
Analysts expected new home sales to rise to 682,000 sales based on the March reading of 672,000 new homes sold. Sales of new homes are calculated based on a small sample of sales and … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - May 14th, 2018 - 05/14/18 06:48 AM

Last week's economic reports included readings on consumer prices, consumer sentiment and weekly readings on mortgage rates and new jobless claims.
Consumer Price Index Increases in April
Consumer prices rose by 0.20 percent in April according to the Commerce Department. Analysts expected prices to rise by 0.30 percent based on a negative reading of -0.10 percent in March. Core consumer prices, which exclude volatile food and energy sectors, eased to 0.10 percent growth in April after growing by 0.20 percent in March. Analysts said that Fed policymakers' concerns over inflation growth could wane with the easing of core consumer prices.
Mortgage Rates, Mixed New Jobless … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - April 30th, 2018 - 04/30/18 07:39 AM

Last week’s economic reports included readings from Case-Shiller Home Price Indices, new and existing home sales and weekly readings on mortgage rates and first-time jobless claims.
Case-Shiller: Home Prices Rise to Near Four-Year High
February home prices rose 6.30 percent year-over-year and 0.50 percent month-to-month. Home prices rose just shy of a record set in 2014. The 20-City Home Price Index reported home prices were 6.80 percent higher year-over-year and rose 0.80 percent month-to-month in February. The year-over-year reading surpassed the peak reading in 2006. Home prices accelerated in contrast to analyst expectations that they nay slow as buyers deal with a short … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - April 23rd, 2018 - 04/23/18 06:56 AM

Last week's economic reports included readings on builder confidence, housing starts and building permits issued. Weekly readings on mortgage rates and new jobless claims were also released.
NAHB: Builder Confidence Drops by One Point
The National Association of Home Builders reported that builder confidence dipped by one point in April to an index reading of 69. While any reading over 50 indicates positive builder sentiment, NAHB noted that builder sentiment has decreased for the past four months.
During the housing bubble of 2004 and 2005, builder confidence in market conditions averaged 68, but analysts said that the post bubble crash in home values was … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - April 16th, 2018 - 04/16/18 08:09 AM

Last week's economic reports included readings on inflation, the minutes of the most recent meeting of the Fed's Federal Open Market Committee and weekly reports on mortgage rates and first-time jobless claims. The University of Michigan released its Consumer Sentiment Index for April.
Inflation Grows, Fed Indicates Future Rate Hikes Likely
The minutes of the Federal Open Market Committee Meeting held March 20 and 21 indicate Fed policymakers are likely to increase the target federal funds rate at their June meeting. Economic indicators including strong labor markets and low unemployment rate were cited as contributing to expectations for federal rate hikes throughout 2018.
How the … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - April 9th, 2018 - 04/09/18 07:55 AM

Last week's economic reports included readings on construction spending, mortgage rates and weekly jobless claims. Other labor-related claims included ADP payrolls, Non-Farm Payrolls and the national unemployment rate.
Construction Spending Rises in February
Construction spending was higher in February according to the Commerce Department. Spending on building projects rose by 0.10 percent in February Reuters reported that construction spending rose 0.10 percent as compared to expectations of an 0.40 percent increase and January's unchanged reading. Seasonal weather conditions typically cause lulls in building. Analysts said that residential construction spending increased by 0.10 percent to its highest level since January 2007.
Real estate analysts have … (0 comments)

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