Last week's economic reports included Labor Department readings on private and public sector jobs, the national unemployment rate. Weekly readings on mortgage rates and first-time jobless claims were also released. Monthly reporting on construction spending was delayed due to the government shutdown. Public and Private-Sector Jobs Growth Exceeds Expectations ADP reported 271private sector jobs added in December as compared to 157,000 jobs added in November. Analysts expected 182,000 jobs added … [Read more...]
Case-Shiller: Home Price Growth Grinds to Lowest Rate in 2 Years
Home prices rose by 0.40 percent in October according to Case-Shiller's 20-City Home Price Index and were unchanged from September's year-over-year reading of 5.50 percent growth. Slower growth in home prices could help some would-be home buyers enter the market, but rapidly rising mortgage rates have sidelined buyers concerned with affordability and meeting strict mortgage lending requirements. High Mortgage Rates Stifle Demand for Homes October's year-over-year reading for home price growth … [Read more...]
What’s Ahead For Mortgage Rates This Week – December 31st, 2018
Last week's economic reports included readings from Case-Shiller Housing Market Indices, National Association of Realtors® on pending home sales and weekly readings on mortgage rates and new jobless claims. The Commerce Department's reading on sales of new homes was delayed due to the federal government's shutdown. Case-Shiller: Home Price Growth Lowest in Two Years Home price growth was nearly nil with October's month-to-month reading of 0.40 percent; The Case-Shiller 20-City Home … [Read more...]
What’s Ahead For Mortgage Rates This Week – December 24th, 2018
Last week's economic news included readings from the National Association of Home Builders, Commerce Department readings on housing starts and National Association of Realtors® report on sales of previously-owned homes. Weekly reports on mortgage rates and first-time jobless claims were also released. NAHB: Home Builders Lose Confidence as Housing Crunch Continues Homebuilder confidence fell to a 36 month low in December as homebuilder concerns over rising home prices, high mortgage rates … [Read more...]
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