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 - April 2nd, 2018 - 04/02/18 06:40 AM

Last week's economic releases included readings from Case-Shiller, pending home sales, and consumer sentiment. Weekly reports on mortgage rates and first-time jobless claims were also released.
Case-Schiller: Home Prices Continue to Rise
According to Case-Shiller Home Price Index reports for January, U.S. home prices continued to rise at a rapid pace with the national home price index rising at a seasonally-adjusted annual rate of 6.20 percent. Case-Shiller's 20-City Home Price Index rose by 6.40 percent year-over-year. Seattle, Washington held the top spot with year-over-year home price growth of 12.90 percent.
Las Vegas, Nevada reported year-over-year home price growth of 11.20 percent. After a … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - March 12th, 2018 - 03/12/18 07:55 AM

Last week's economic releases included reports on Non-Farm Payrolls, ADP payrolls, and the national unemployment rate. Weekly readings on mortgage rates and new jobless claims were also released.
Public and Private Sector Jobs Show Mixed Readings
ADP Payrolls reported 235,000 private sector jobs added in February as compared to January's updated reading of 243,000 jobs added. Analysts estimated 205,000 private sector jobs would be added, but this was based on the original reading of 234,000 jobs added. February was the fourth consecutive month when private sector job growth exceeded 200,000 jobs.
According to the federal government, Non-Farm payrolls added 74000 public and private-sector … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - March 5th, 2018 - 03/05/18 07:31 AM

Last week's economic releases included readings on new home sales, pending home sales and Case-Shiller Home Price Indices. Construction spending and consumer sentiment reports were also released, along with weekly readings on average mortgage rates and new jobless claims.
New Home Sales Drop in January
New home sales were reported at a seasonally-adjusted annual rate of 593,000 sales in January according to the Commerce Department. Analysts expected a rate of 693,000 sales based on December's upwardly revised rate of 643,000 sales of new homes. January's reading was 7.80 percent lower than for December; January's reading was one percent lower than for January of … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - February 26th, 2018 - 02/27/18 07:26 AM

Last week's economic releases included minutes from the most recent FOMC meeting, a report on January sales of pre-owned homes and weekly readings on mortgage rates and new jobless claims.
FOMC Minutes: Economic Strength Hints at More Rate Hikes
Minutes of the January 30-31 meeting of the Fed's Federal Open Market Committee indicated that most Committee members believe that inflation will reach the Fed's goal of 2.00 percent. Members found that the economy was stronger since 2017 and expected "a gradual upward trajectory of the federal funds rate would be appropriate."
While analysts expect three rate hikes in 2018, the FOMC voted to hold … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - February 5th, 2018 - 02/05/18 07:03 AM

Last week's economic releases included readings on pending home sales, Case-Shiller Home Price Indices and construction spending. The Federal Open Market Committee of the Federal Reserve released its monthly statement and weekly readings on mortgage rates and new jobless claims were released. Last week's economic readings wrapped with a report on consumer confidence.
Case-Shiller: Home Prices Rise in November
Home prices rose an average of 0.70 percent monthly and 6.20 percent year-over-year according to Case-Shiller's national home price index for November. Seattle, Washington posted the highest year-over-year home price growth rate at 12.70 percent. Las Vegas, Nevada posted year-over-year home price growth of … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - January 29, 2018 - 01/29/18 07:00 AM

Last week's economic news included releases on new and existing home sales along with weekly readings on mortgage rates and first-time jobless claims.
Home Sales Fall Due to Slim Supply of Homes
December sales of previously-owned homes dipped to an 18-year low with a reading of 5.57 million sales on a seasonally-adjusted annual basis. Pre-owned home sales were expected to reach 5.73 million homes based on November's downwardly- revised reading of 5.78 million sales. December sales were 3.6 percent lower month-to-month, but were 1.10 percent higher year-over-year.
Analysts credited the shortage of sales to tight inventories of homes for sale. Low inventories of homes … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - January 8, 2018 - 01/08/18 07:44 AM

Last week's economic reports included readings on construction spending, minutes of the most recent meeting of the Fed's Federal Open Market Committee. Labor reports including ADP, Non-Farm Payrolls, and national unemployment were released along with weekly readings on mortgage rates and new jobless claims.
Construction Spending Rises; Driven by Residential Building
Residential construction drove November construction spending surpassed expectations of a 0.50 percent increase; Overall, construction spending rose by 0.80 percent in November. Residential construction was up 7.90 percent year-over-year. Single-family home construction rose 8.90 percent year-over-year. Rising rates of single-family construction is good news for homebuyers, who have faced obstacles due to … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - December 4, 2017 - 12/04/17 07:06 AM

Last week's economic releases included readings on new and pending home sales, Case-Shiller index readings for September, and construction spending. Weekly readings on new jobless claims and mortgage rates were also released.
Home Price Growth Driven by Shortage of Homes for Sale
Case-Shiller Home Price Indices reported 6.20 percent growth in home prices year-over-year in September as compared to August's reading of 6.00 percent year-over-year growth for August. September's reading was the highest for national home price growth since 2014.
According to the 20-City Home Price Index, Seattle, Washington held on to first position with 12.90 percent home price growth year-over-year. Analysts noticed that … (3 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - October 30, 2017 - 10/30/17 06:59 AM

Last week's economic news included readings on new and pending home sales and weekly reports on mortgage rates and new jobless claims.
New Home Sales Exceed Expectations; No Growth for Pending Sales
September sales of new homes reached a 10-year high with a seasonally-adjusted annual rate of 667,000 new homes sold. Analysts said that high demand drove September sales past the expected rate of 555,000 sales and August's reading of 561,000 sales of new homes. September's reading was 19.9 percent higher than for August and was 17 percent higher year-over-year. September's reading was 8.60 percent higher for year-to-date sales of new homes. … (2 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - October 2, 2017 - 10/02/17 07:22 AM

Last week's economic reports included Case-Shiller's Home Price Indices, readings on new and pending home sales and Freddie Mac 's weekly mortgage rates report. Weekly jobless claims and reports on inflation and core inflation were also released.
Case-Shiller Home Prices Rise in July; New and Pending Home Sales Lower in August
According to Case-Shiller July Index reports, national home prices rose at a rate of 5.8
90 percent on a seasonally-adjusted annual basis as compared to June's reading of 5.80 percent. The top three cities in the 20-City Home Price Index were Seattle, Washington, Portland, Oregon and Las Vegas, Nevada.
Home prices are responding … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - September 11, 2017 - 09/11/17 07:30 AM

Last week's economic news was slim due to the Labor Day Holiday. Scheduled releases included the Fed's Beige Book Report and weekly readings on mortgage rates and new jobless claims.
Beige Book Cites Concerns Over U.S. Auto Industry
Federal Reserve Board members shared anecdotes from their respective regions; of note were concerns about U.S. automakers. Auto production was more than 16 percent lower year-over-year in Cleveland, Ohio. Fed business contacts said that automakers are no longer seeking buildings for expanding production. Analysts said that slowing auto production and sales could indicate slowing economic trends. Auto industry slow-downs could also result in layoffs in … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - August 7, 2017 - 08/07/17 06:44 AM

Last week's economic news included readings on pending home sales, construction spending. Several reports related to employment were also posted along with weekly readings on mortgage rates and new jobless claims.
Pending Home Sales Rise as Construction Spending Lags
Pending home sales rose by 1.50 percent to an index reading of 110.2 in June according to the National Association of Realtors®. Sales of homes under contract that have not yet closed regained positive territory after May's negative reading of -0.70 percent. Pending sales were in negative territory for the past three months.
Regional results for pending sales were mixed. The Northeast posted a … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - July 31, 2017 - 07/31/17 07:10 AM

Last week's economic news included readings on new and existing home sales, Case-Shiller Home Price Index reports and an announcement by the Federal Open Market Committee of the Federal Reserve. Weekly readings on mortgage rates and new jobless claims were also released.
New and Existing Home Sales Mixed in June
Sales of new homes rose in June rose to a seasonally- adjusted annual rate of 610,000 homes. Analysts expected 614,000 new home sales based on May's reading of 605,000 new home sales. The National Association of Realtors® reported 5.52 million previously owned homes sold in June on a seasonally-adjusted annual basis. A … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - July 24, 2017 - 07/24/17 07:30 AM

Last week's economic news included releases from the National Association of Home Builders and releases from the Commerce Department on housing starts and building permits issued. Weekly readings on mortgage rates and new jobless claims were also released.
NAHB Housing Market Index Dips; Builder Sentiment Remains Strong
Higher lumber costs were cited by the National Association of Home Builders as contributing to lower readings for the group's monthly Housing Market Index. July's reading was two points lower than May's index reading. The original May reading of 67 was adjusted to 66.
Builders said that a steep tariff on Canadian lumber has raised building … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - July 3, 2017 - 07/03/17 06:48 AM

Last week's economic news included Case-Shiller Home Price Indices, pending home sales and inflation. Weekly readings on mortgage rates and new jobless claims were released along with a reading on consumer sentiment. Case-Shiller and pending home sales readings suggested that recent rapid growth in home prices and home sales may be easing. High demand for homes coupled with low inventories of homes for sale has created an artificially high rate of home price growth and competition among buyers for a limited number of homes.
Home Price Growth Rate, Pending Home Sales Slow
Case-Shiller Home Price Indices for April showed lower home price … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - June 26, 2017 - 06/26/17 07:24 AM

Last week's economic news included readings on sales of new and previously owned homes. Despite expectations of lower sales in both categories, sales surpassed expectations and April sales. Analysts were concerned about extremely tight inventories of available homes limiting home sales and did not expect May home sales to increase.
May Home Sales Surpass Expectations
Sales of new homes increased to a seasonally-adjusted annual rate of 610,000 sales as compared to expectations of 590,000 sales and an annual sales pace of 593,000 homes in April. Home builders have repeatedly cited a lack of buildable lots and skilled labor, but growth in new … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - June 12, 2017 - 06/12/17 06:45 AM

Last week's economic news was slim, with few scheduled reports released. Job openings for April, along with weekly readings on mortgage rates and weekly jobless claims were released. Job openings rose in April, while weekly jobless claims were lower. The headline event last week was a further decrease in fixed-rate mortgage interest rates.
Mortgage Rates Lowest in Almost 7 Months
Freddie Mac reported that average rates for fixed rate home loans fell again last week. Mortgage rates typically follow 10-year Treasury yields, which also fell last week. The average rate for a 30-year fixed rate mortgage dropped five basis points to 3.89 … (1 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - April 10, 2017 - 04/10/17 07:01 AM

Last week's economic data included releases on construction spending and labor-related reports including ADP Payrolls, Non-Farm Payrolls, national unemployment. Weekly readings on mortgage rates and new jobless claims were also released.
Construction Spending Increases in February
February construction spending grew by 0.80 percent from January's reading of -0.50 percent. Analysts expected a reading of + 1.00 percent. Housing industry pros and analysts continue monitoring construction spending for indications of future construction projects. Construction spending was boosted by unseasonably warm weather in regions typically subject to cold winter climates.
U.S. homes are in high demand despite rapidly rising home prices due to short supplies … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - March 13, 2017 - 03/13/17 06:59 AM

Last week's economic readings included reports on construction spending, Case-Shiller Home Price Indices and pending home sales. Fed Chair Janet Yellen said in a speech that federal interest rates would "likely" be raised. Weekly reports on new jobless claims and mortgage rates were also released.
Pending Home Sales Slump as Available Homes Dwindle
Pending Home sales fell in January as inventories of available homes declined. Prospective buyers faced with fewer choices may have chosen to wait rather than purchase homes that weren't a good match for their needs. Analysts expected pending home sales to grow by 1.10 percent in January, but they … (0 comments)

mortgage rate outlook: What's Ahead For Mortgage Rates This Week - March 6, 2017 - 03/06/17 07:44 AM

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