03 Aug 2020
By Mark Feder

What’s Ahead For Mortgage Rates This Week – August 3, 2020

Financial Reports
Last week’s economic reports included readings from Case-Shiller Home Price Indices, data on pending home sales, and the consumer sentiment index released by the University of Michigan. The Federal Reserve released a statement from its Federal Open Market Committee and Fed Chair Jerome Powell gave a press conference. Weekly readings on mortgage rates and expanded reports on jobless claims were also released. Case-Shiller Home Price Readings Showed Slowing Home Price Gains in May May readings from Case-Shiller Home Price Indices showed no decline in home prices, but the national pace of home price growth slowed to 4.50 percent from April’s…
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20 Jul 2020
By Mark Feder

What’s Ahead For Mortgage Rates This Week – July 20, 2020

Financial Reports
Last week’s economic reports included readings from the National Association of  Home Builders on housing markets along with Commerce Department data on housing starts and building permits issued. Weekly reports on mortgage rates and unemployment claims were also released. NAHB: Builder Confidence in Housing Markets Increases in July Homebuilders gained confidence in housing market conditions as home buyers sought homes in less-congested suburban areas. Builder confidence rose 14 points to an index reading of 72 in July. NAHB Chair Chuck Fowke said, “Builders are seeing strong traffic and lots of interest in new construction as existing home inventory remains lean.”…
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13 Jul 2020
By Mark Feder

What’s Ahead For Mortgage Rates This Week – July 13, 2020

Financial Reports
Last week’s scheduled economic news included readings on consumer credit, job openings, jobless claims, and mortgage rates. Consumer Borrowing Declined at Slower Pace in May According to Federal Reserve data, consumer borrowing fell at a slower annual pace of -5.30 percent in May as compared to April’s reading of -20 percent. Non-revolving consumer credit, which includes vehicle and student loans, increased by 2.30 percent in May. The Federal Reserve does not report on real estate loans. Federal assistance programs including the first round of stimulus checks, additional unemployment payments and support for businesses contributed to better readings for the economy…
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06 Jul 2020
By Mark Feder

What’s Ahead For Mortgage Rates This Week – July 6, 2020

Financial Reports
Last week’s scheduled economic reports included readings on pending home sales, Case-Shiller Home Price Indices, and labor sector reports on private and public-sector job growth. Data on construction spending was also released. Weekly readings on mortgage rates and jobless claims were also released. Pending Home Sales Jump in May Sales of homes for which purchase contracts were signed rose by 44.30 percent in May and was the highest month-to-month increase recorded since the report’s inception in 2001..Pending home sales are sales with signed purchase contracts but aren’t closed. Lawrence Yun, chief economist for the National Association of Realtors® said,  “This…
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