17 Jul 2023
By Mark Feder

What’s Ahead For Mortgage Rates This Week – July 17, 2023

Financial Reports
Last week’s economic reporting included readings on month-to-month and year-over-year inflation and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also published. Month-to-Month Inflation Rises as Year-Over-Year Inflation Slows The Consumer Price Index for June rose 0.20 percent in June as compared to May’s reading of 0.10 percent growth and expectations of 0.30 percent month-to-month growth. The core CPI reading, which excludes volatile food and fuel sectors, fell to 0.20 percent growth in June as compared to May’s month-to-month reading of 0.40 percent growth. The year-over-year reading for the Consumer Price Index in June slowed to 3.00…
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03 Jul 2023
By Mark Feder

What’s Ahead For Mortgage Rates This Week – Juy 3, 2023

Financial Reports
Last week’s scheduled economic news includes readings on inflation, new home sales, pending home sales, and consumer sentiment. Federal Reserve Chair Jerome Powell spoke at a banking conference in Spain. Weekly reports on mortgage rates and jobless claims were also released. New Home Sales Rise as Pending Home Sales Fall May readings for new and pending home sales showed mixed results for May. 763,000 new home sales were expected on a seasonally-adjusted annual basis. Analysts expected a reading of 675,000 sales based on April’s year-over-year reading of 680,000 new home sales. May’s increase in new home sales was the largest…
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29 Jun 2023
By Mark Feder

S&P Case-Shiller Housing Market Indices: Short Supply of Homes for Sale Pushes Prices Up

Financial Reports
April readings for S&P Case-Shiller’s Housing Market Indices showed gains in home prices throughout the U.S. Rising prices were caused by shortages of previously-owned homes for sale and increasing buyer demand as the average 30-year mortgage rate exceeded six percent.  The southeastern region lost its top spot on S&P Case-Shiller’s 20-City Home Price Index as Chicago, Illinois, Atlanta, Georgia, and Tampa, Florida held the top three year-over-year home price growth rates for April. Chicago, Illinois Breaks Southeast’s Lead on April Home Price Growth The top three cities with the highest home price growth rates as reported in April’s   S&P Case-Shiller’s…
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19 Jun 2023
By Mark Feder

What’s Ahead For Mortgage Rates This Week – June 19, 2023

Financial Reports
Last week’s scheduled economic reports included readings on inflation, the Fed’s Federal Open Market Committee meeting, and Fed Chair Jerome Powell’s press conference. Weekly readings on mortgage rates and jobless claims were also published. Fed Leaves Key Rate Range Unchanged Federal Reserve policymakers left the Fed’s current interest rate range unchanged at 5.00 to 5.25 percent; the Fed decision was announced after a scheduled meeting of the Fed’s Open Market Committee ended on Wednesday. Factors contributing to the  FOMC policymakers’  decision included the cumulative effects of tightening monetary policy, lags between changing monetary policy and any impact on the economy,…
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