What’s Ahead For Mortgage Rates This Week – April 10, 2023
Last week's economic reporting included readings on construction spending and labor sector readings on employment and the national unemployment rate for March. Weekly readings on mortgage rates and jobless claims were also released. Commerce Department: February Construction Spending Falls The U.S. Commerce Department reported less construction spending in February than in January as construction spending fell by 0.10 percent to a year-over-year reading of $1.844 trillion for all types of construction. Year-over-year construction spending increased by 5.20 percent. While total construction spending fell in February, residential construction spending increased. Spending on single-family home construction slowed due to builders’ concerns over…