Last week's economic releases included the National Association of Home Builders Housing Market Index for May, Commerce Department reports on housing starts and building permits issued. Weekly readings on mortgage rates and first-time jobless claims were also released. Home Builder Confidence Rises in May According to the National Association of Home Builders, home builders surveyed indicated higher confidence in housing market conditions for May. April's reading was downwardly revised to an … [Read more...]
What’s Ahead For Mortgage Rates This Week – August 8, 2016
Last week's economic reports included construction spending, personal income, and multiple reports on employment. Freddie Mac's mortgage rates survey and new jobless claims were also released. Construction Spending Dips in June According to the Commerce Department, construction spending fell in June to -0.60 percent as compared to expectations of an increase of 0.50 percent and May's reading of -0.10 percent. Spending was even across public and private construction spending. The Commerce … [Read more...]
What’s Ahead For Mortgage Rates This Week – July 18, 2016
Last week's economic news included reports on inflation, retail sales and weekly readings on mortgage rates and weekly jobless claims. Mortgage rates were mixed with average rate for a 30-year fixed rate mortgage rising by one basis point to 3.42 percent. The average rate for a 15-year mortgage dropped by two basis points to 2.72 percent, and the average rate for a 5/1 adjustable rate mortgage rose six basis points to 2.76 percent. Discount points averaged 0.50 percent for 30-year fixed rate … [Read more...]
What’s Ahead For Mortgage Rates This Week – July 11, 2016
Last week's economic news included minutes from the most recent meeting of the Fed's Federal Open Market Committee (FOMC) along with several reports on private and public sector employment and the national unemployment rate. Weekly reports on mortgage rates and new jobless claims were also released. FOMC Minutes: Committee Closely Monitoring Economic Developments The minutes of June's FOMC meeting indicate that Fed policymakers continue to be cautious based on low inflation and close review of … [Read more...]
