What’s Ahead For Mortgage Rates This Week – December 9, 2013
Last week brought several indicators of a strengthening economy. New home sales, private and federal employment and mortgage rates rose. The Department of Commerce released construction spending numbers for October with mixed results. Although public projects fueled an 0.80 percent increase in month-to-month construction spending, residential construction fell by 0.60 percent. Analysts had expected an increase of 0.50 percent and also noted that the negative effect of the government shutdown was a "blip." October's reading for construction spending was the highest since 2004. CoreLogic released data that home prices rose by 0.20 percent, which represents a year-over-year growth rate of…