Anyone who has paid attention to the news has likely noticed that inflation is a constant headline. Inflation takes place when the average cost of goods and services begins to rise. There are a number of reasons why inflation has been rising at record rates during 2021 and 2022. The federal government has pumped money into the economy, and supply chain constraints have led to a shortage of goods. This means that everything from cars to groceries has gotten more expensive. Many individuals and … [Read more...]
Does Shopping Around for A Mortgage Pre-Approval Hurt Your Credit Rating?
Smart homebuyers know that mortgage rates and terms can vary widely among lenders. While your credit score and history will influence what rates and terms you’re offered, there’s a wide range of flexibility, which means shopping around for a pre-approval makes sense. At the same time, it’s important to minimize credit inquiries to protect your credit rating. What is Mortgage Pre-Approval? Mortgage pre-approval is often mistaken for mortgage pre-qualification. Pre-qualification … [Read more...]
What’s Ahead For Mortgage Rates This Week – January 10, 2022
Last week’s economic reporting included readings on construction spending and labor sector readings on jobs and unemployment. Weekly reports on mortgage rates and jobless claims were also released. Construction Spending Unchanged, Falls Short of Expectations The Commerce Department reported that construction spending rose by 0.4 percent in November to a seasonally-adjusted annual pace of $1.63 trillion and 9.30 percent year-over-year, Residential construction spending drove spending … [Read more...]
What’s Ahead For Mortgage Rates This Week – December 27, 2021
Last week’s scheduled economic reporting included readings on sales of new and previously-owned homes along with weekly data on mortgage rates and jobless claims. Home Sales Increase in November Sales of new and previously-owned homes rose in November. The Commerce Department reported sales of new homes rose to 744,000 sales on a seasonally-adjusted annual basis. October sales of new homes were revised to a year-over-year reading of 662,000 new homes sold, which was the lowest reading … [Read more...]
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