Mortgage Rates

Last week's economic news included readings on Case-Shiller home prices, construction spending, and consumer sentiment. Labor sector readings on private and public employment and the national unemployment rate were also released. Weekly readings on mortgage rates and new jobless claims were also released. Case-Shiller: Home Price Growth Approaches Record Home price growth approached a record set in 2006 in August, but analysts said that affordability and the shortage of homes for sale could signal slower growth ahead. David M. Blitzer, Chairman of the S&P Index Committee, said that while home prices appeared to be "unstoppable," signs of slowing momentum could…

Last week's economic news included readings on new and pending home sales and weekly reports on mortgage rates and new jobless claims. New Home Sales Exceed Expectations; No Growth for Pending Sales September sales of new homes reached a 10-year high with a seasonally-adjusted annual rate of 667,000 new homes sold. Analysts said that high demand drove September sales past the expected rate of 555,000 sales and August's reading of 561,000 sales of new homes. September's reading was 19.9 percent higher than for August and was 17 percent higher year-over-year. September's reading was 8.60 percent higher for year-to-date sales of…