Financial Reports

02 Feb 2023

S&P Case-Shiller Home Price Indices: Home Prices Fall In November

Financial Reports

U.S. home prices continued to fall in November according to S&P Case-Shiller’s month-to-month national and 20-city home price indices, but home price growth rates remained in positive territory year-over-year. The national home price index posted a 7.70 percent year-over-year home price growth rate as of November 2022. 20-city home price index posts 5th consecutive month-to-month decrease in November The S&P Case-Shiller 20-city home price index for November reported that the top three cities for home price growth were Miami, Florida with a year-over-year home price growth rate of 18.4 percent; Tampa, Florida followed with a year-over-year home price growth rate…

30 Jan 2023

By Tawnya King

What’s Ahead For Mortgage Rates This Week – January 30, 2023

Financial Reports

Last week’s economic reporting included readings on new and pending home sales, inflation, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. New home sales increase in December The Commerce Department reported new home sales rose to a seasonally-adjusted annual pace of 616,000 sales in December as compared to the expected pace of 615,000 new homes sales and November’s revised reading of 602,000 annual sales. December was the third consecutive month that the pace of new home sales rose, but new home sales remained well below the 1.04 million sales peak reported in August 2020.…

23 Jan 2023

By Tawnya King

What’s Ahead For Mortgage Rates This Week – January 23, 2023

Financial Reports

Last week’s economic reporting included readings from the National Association of Home Builders on U.S. housing markets, and Commerce Department data on housing starts and building permits issued. The National Association of Realtors® reported sales of previously owned homes, and weekly readings on mortgage rates and jobless claims were also released. NAHB: Homebuilder Sentiment Rises in December The National Association of Home Builders reported increased homebuilder confidence in U.S. housing market conditions in December; this was the first time in 12 months that homebuilder confidence rose. Builder confidence in current housing market conditions rose by four points; builder confidence in…

17 Jan 2023

By Tawnya King

What’s Ahead For Mortgage Rates This Week – January 17, 2023

Financial Reports

Last week’s financial reporting was dominated by readings on inflation. Weekly reports on mortgage rates and jobless claims were also released and Treasury Secretary Janet Yellen cautioned lawmakers that the debt ceiling must be raised or eliminated. Inflation slows in December Month-to-month inflation slowed by -0.1 percent in December and matched analysts’ expectations. This was the first slowing of inflation since the pandemic and the highest inflation reading since inflation reached its highest level in 40 years. Inflation rose by 0.1 percent in November. Year-over-year inflation rose by 6.5 percent, which matched expectations, and fell short of the November reading…

09 Jan 2023

By Tawnya King

What’s Ahead For Mortgage Rates This Week – January 9, 2023

Financial Reports

Last week’s economic reporting included readings on minutes of the most recent Federal Open Market Committee meeting and its customary post-meeting press conference, labor-sector data on public and private-sector jobs, and the national unemployment rate. Weekly readings on mortgage rates and jobless claims were also released. FOMC Meeting: Policymakers seek a balance between high inflation and rising rates The minutes of the Federal Open Market Committee meeting held on December 13 and 14 reflect committee members’ concern over controlling rapidly growing inflation while avoiding a recession. While committee members said that they made “significant progress” in raising rates to cut…

02 Jan 2023

By Tawnya King

What’s Ahead For Mortgage Rates This Week – January 2, 2023

Financial Reports

Last week’s economic reporting included readings on U.S. housing markets, pending home sales, and weekly readings on mortgage rates and jobless claims. S&P Case Shiller Home Price Indices: Month-to-moth home prices fall in October U.S. home prices fell in October for the fourth consecutive month. Wavering demand for homes was caused by rising mortgage rates and high home prices in many regional markets. The 20-City home price index showed the top three cities with the highest month-to-month home price declines were Miami. Florida with a -1.0 percent decline, Tampa, Florida where home prices declined by -0,8 percent, and Charlotte, North…

26 Dec 2022

By Tawnya King

What’s Ahead For Mortgage Rates This Week – December 26, 2022

Financial Reports

Last week’s economic scheduled economic news included readings on sales of previously-owned homes, housing starts, and building permits issued. Readings on the Consumer Price Index, which tracks inflation, were also released along with weekly readings on mortgage rates and jobless claims. Sales of previously-owned homes fall in November The National Association of Realtors® reported fewer sales of previously-owned homes in November than in October. 4.09 million previously-owned homes were sold year-over-year in November as compared to 4.43 million sales reported in October. This was the tenth consecutive month showing fewer sales of previously-owned homes. Although mortgage rates and home prices…