Jobless Claims

26 Jun 2023

What’s Ahead For Mortgage Rates This Week – June 26, 2023

Financial Reports

Last week’s scheduled economic reports included readings on housing starts, existing home sales, and Federal Reserve Chair Jerome Powell’s congressional testimony. Weekly readings on mortgage rates and jobless claims were also released. National Home Builders Association Releases June Housing Market Index U.S. home builder confidence rose by five points to an index reading of 55 in June according to the National Association of Home Builders Housing Market Index. The June reading surpassed the expected reading of 51 and May’s housing market index reading of 50. Component readings for the Housing Market Index also rose as builder confidence in current market…

19 Jun 2023

By Tawnya King

What’s Ahead For Mortgage Rates This Week – June 19, 2023

Financial Reports

Last week’s scheduled economic reports included readings on inflation, the Fed’s Federal Open Market Committee meeting, and Fed Chair Jerome Powell’s press conference. Weekly readings on mortgage rates and jobless claims were also published. Fed Leaves Key Rate Range Unchanged Federal Reserve policymakers left the Fed’s current interest rate range unchanged at 5.00 to 5.25 percent; the Fed decision was announced after a scheduled meeting of the Fed’s Open Market Committee ended on Wednesday. Factors contributing to the FOMC policymakers’ decision included the cumulative effects of tightening monetary policy, lags between changing monetary policy and any impact on the economy,…

12 Jun 2023

By Tawnya King

What’s Ahead For Mortgage Rates This Week – June 12, 2023

Financial Reports

Last week’s scheduled economic news included results from Fannie Mae’s National Housing Survey and weekly readings on mortgage rates and jobless claims. Fannie Mae Survey Shows Lower Home Buyer Confidence in May Fannie Mae reported lower home buyer confidence in housing market conditions in May. High home prices and rising mortgage rates challenged prospective home buyers while providing favorable conditions for sellers. 65 percent of consumers surveyed for Fannie Mae’s Home Purchase Sentiment Index believed that it was a good time to sell their homes as compared to 62 percent of consumers surveyed in April. This was the highest consumer…

30 May 2023

By Tawnya King

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

Financial Reports

Last week’s economic news included readings on new and pending home sales and inflation. The final monthly reading for May consumer sentiment was released along with weekly readings on mortgage rates and jobless claims. Shortage of previously-owned homes for sale directs buyers to new homes Homeowners weren’t in a hurry to sell their homes due to the low mortgage rates they obtained during the pandemic. Current mortgage rates are higher than pandemic-era rates, which influenced homeowners to stay in their homes and keep their lower existing mortgage rates. Home buyers turned to new home developments as an alternative to shopping…

22 May 2023

By Tawnya King

What’s Ahead For Mortgage Rates This Week – May 22, 2023

Financial Reports

Last week’s economic reporting included readings on U.S. housing markets, sales of previously-owned homes, housing starts, and building permits issued. Weekly readings on mortgage rates and jobless claims were also released. NAHB: U.S. Home Builder Confidence Rises in May The National Association of Home Builders reported a five-point gain in home builder confidence in current housing market conditions in May. The index reading for May rose to 50 in May as compared to April’s reading of 45. Analysts expected a reading of 45 for May. Readings above 50 indicate a majority of home builders are positive about current housing market…

01 May 2023

By Tawnya King

What’s Ahead For Mortgage Rates This Week – May 1, 2023

Financial Reports

Last week’s economic reporting included readings on home prices, sales of new homes, and pending home sales. Monthly and year-over-year readings for inflation were published along with weekly reports on mortgage rates and jobless claims. February S&P Case-Shiller Housing Market Indices show slower home price growth National home prices continued to rise in February, but at a slower pace according to S&P Case-Shiller home price indices. Month-to-month home prices rose by 0.40 percent in February and matched analysts’ expectations, but were lower than January’s reading of 2.50 percent home price growth. S&P Case-Shiller’s 20-city home price index, which is frequently…

24 Apr 2023

By Tawnya King

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What’s Ahead For Mortgage Rates This Week – April 24, 2023

Financial Reports

Last week’s economic reporting included readings on home builder confidence and weekly reports on mortgage rates and jobless claims. NAHB: Home builder confidence increases in April The National Association of Home Builders reported that builder confidence in current housing market conditions rose by one point to an index reading of 45 in April. April’s reading was the fourth consecutive month showing increasing builder confidence. The March and April index readings of 44 and 45 were the strongest since September 2022. A year ago the homebuilder confidence reading was 77. Component readings for homebuilder confidence in market conditions were mixed. Builder…