Last week’s economic reporting included readings on sales of new and previously owned homes. State and federal data on new and continuing jobless claims were released along with Freddie Mac’s weekly report on mortgage rates. Sales of New and Existing Homes Rise in June Sales of new homes rose at their highest rate in 13 years according to the Commerce Department. New homes sold at a seasonally-adjusted annual pace of 776,000 sales, which exceeded the expected reading of 710.000 new … [Read more...]
What’s Ahead For Mortgage Rates This Week – July 20, 2020
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 … [Read more...]
What’s Ahead For Mortgage Rates This Week – July 13, 2020
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 … [Read more...]
What’s Ahead For Mortgage Rates This Week – July 6, 2020
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 … [Read more...]
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