Last week’s economic reports included readings on U.S. housing markets, housing starts and building permits, and the scheduled post-meeting statement from the Federal Open Market Committee of the Federal Reserve. Data on sales of previously owned homes were released along with weekly reports on mortgage rates and jobless claims. National Association of Home Builders: Rising Mortgage Rates Shake Builder Confidence Homebuilders lost confidence in U.S. housing market conditions in September. September’s index reading was 45 as compared to the expected reading of 49.5 and … [Read more...]
What’s Ahead For Mortgage Rates This Week – September 11, 2023
Last week’s scheduled economic reporting was limited due to the U.S. Labor Day holiday on Monday. The Federal Reserve released its Beige Book report and weekly readings on mortgage rates and jobless claims were also published. Federal Reserve Releases Beige Book Report The Beige Book report is a summary of information supplied to Federal Reserve policymakers by their business and professional contacts. Highlights of September’s Beige Book report included: Accelerated leisure spending by consumers boosted economic growth during July and August. Non-essential retail sales slowed, … [Read more...]
What’s Ahead For Mortgage Rates This Week – September 5, 2023
Last week’s economic reporting included readings on inflation, consumer sentiment, and weekly readings on mortgage rates and jobless claims. Inflation Rates Are Similar in August Month-to-month, the inflation rate holds relatively steady at 3.18 percent. This is slightly up when compared to 2.97 percent last month; however, it is significantly lower than the rate of 8.52 percent last year. When compared to the long-term average, inflation is trending in the right direction, as the long-term average is 3.2 percent. Inflation rose at a pace of 0.20 percent in July and met … [Read more...]
What’s Ahead For Mortgage Rates This Week – September 5, 2023
Last week’s economic reporting included readings on inflation, consumer sentiment, and weekly readings on mortgage rates and jobless claims. Inflation Rates Are Similar in August Month-to-month, the inflation rate holds relatively steady at 3.18 percent. This is slightly up when compared to 2.97 percent last month; however, it is significantly lower than the rate of 8.52 percent last year. When compared to the long-term average, inflation is trending in the right direction, as the long-term average is 3.2 percent. Inflation rose at a pace of 0.20 percent in July and met … [Read more...]
What’s Ahead For Mortgage Rates This Week – September 5, 2023
Last week’s economic reporting included readings on inflation, consumer sentiment, and weekly readings on mortgage rates and jobless claims. Inflation Rates Are Similar in August Month-to-month, the inflation rate holds relatively steady at 3.18 percent. This is slightly up when compared to 2.97 percent last month; however, it is significantly lower than the rate of 8.52 percent last year. When compared to the long-term average, inflation is trending in the right direction, as the long-term average is 3.2 percent. Inflation rose at a pace of 0.20 percent in July and met … [Read more...]
