10
Jan
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Market Outlook, , ,

What’s Ahead For Mortgage Rates This Week – January 11, 2016

The first week of 2016 was quiet concerning housing and mortgage related news, but reports on construction spending and several labor-related reports were released. Construction spending is connected to housing markets as it provides evidence of builder confidence and also future housing supply. Labor market trends provide a sense of economic performance in general and can influence potential buyers on decisions about buying or not buying homes. Construction Spending Dips in November According to the Commerce Department, construction spending dropped by 0.40 percent in November to a seasonally adjusted annual reading of $1.12 trillion. November's reading was short of the…
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04
Jan
By
Market Outlook, ,

What’s Ahead For Mortgage Rates This Week – January 04, 2016

2015 said farewell with reports on Case Shiller home prices, pending home sales, and consumer confidence. The details: Case-Shiller Home Prices Post Double Digit Gains in October According to Case-Shiller's 20 City Home Price Index, Denver, Colorado, Portland, Oregon and San Francisco, California tied for the highest home price gains in October with year-over-year home price gains of 10.90 percent. Lowest annual price gains were posted by Chicago, Illinois at 1.30 percent followed by Washington, D.C with a year-over-year –reading of 1.70 percent. Home prices rose at their fastest rate since August 2014 according to Case-Shiller. Month-to-month home prices showed…
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28
Dec
By
Market Outlook, , ,

What’s Ahead For Mortgage Rates This Week – December 28, 2015

This week's report of economic events is shortened due to the Christmas holiday. Economic news through Wednesday included Existing Home Sales, New Home Sales and Consumer Spending. The details: Existing Home Sales Dip, New Home Sales Rise According to the National Association of Realtors®, sales of previously owned homes dipped from October's seasonally adjusted annual rate of 5.32 million sales to 4.76 million sales of pre-owned homes. This was considerably lower than analysts' expectations of 5.30 million sales. Factors seen as contributing to November's reading included pent-up demand caused by low inventories of available homes and affordability issues emerging as…
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