Financial Reports

13

Dec

Financial Reports

What’s Ahead For Mortgage Rates This Week – December 13, 2021

Last week’s economic reporting included readings on job openings and quits, month-to-month and year-over-year readings on inflation, and the University of Michigan’s preliminary consumer sentiment survey for December. Weekly readings on mortgage rates and jobless claims were also released Job Openings Increase as Quits Decrease as Inflation Remains High The U.S. Labor Department reported that workers quit their jobs at record levels in October as job openings rose to 11 million openings as compared to expectations of 10.6 million job vacancies, which matched September’s reading for job openings. Fewer people quit jobs in October as 4.2 million workers left their…

06

Dec

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – December 6, 2021

Last week’s economic reports included readings on home price trends, pending home sales, labor-sector readings on public and private-sector job growth. Weekly readings on mortgage rates and jobless claims were also released. S&P Case-Shiller: Home Price Growth Slows in September The pace of national home price growth slowed for the first time since May 2020 in September according to S&P Case-Shiller’s National Home Price Index. Year-over-year home price growth slowed by 0.30 percent to 19.50 percent from August’s year-over-year home price growth reading of 19.80 percent. Demand for homes typically slows during fall and winter; some buyers were also sidelined…

29

Nov

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – November 29, 2021

Last week’s economic reporting included readings on sales of new and previously-owned homes, inflation, and weekly readings on mortgage rates and jobless claims. President Biden announced his nomination of Federal Reserve chairman Jerome Powell for a second term. Financial markets were closed Thursday and Friday for the Thanksgiving holiday. Single-Family Home Sales Increase in October The Commerce Department reported sales of new homes rose in October with 745,000 new homes sold on a seasonally-adjusted annual basis. October sales fell short of the 800,000 new home sales expected by analysts but surpassed September’s reading of 742,000 new homes sold. The National…

22

Nov

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – November 22, 2021

Last week’s scheduled economic news included readings from the National Association of Home Builders on housing market conditions. Reporting on housing starts and building permits was released along with weekly reports on mortgage rates and jobless claims. NAHB: Home Builder Confidence Grows as Demand for Homes Increases November’s national reading for home builder confidence in housing market conditions for single-family homes rose three points to an index reading of 83 and the expected reading of 80. Component readings for the national index were mixed. Builder confidence in home sales for the next six months was unchanged at an index reading…

15

Nov

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – November 15, 2021

Last week’s scheduled economic reporting included readings on inflation and a preliminary report on consumer sentiment. Weekly reports on mortgage rates and jobless claims were also released. Inflationary Growth Exceeds Expectations, Creates Consumer Challenges October’s inflation rate rose to its highest year-over-year pace in 31 years last week with a reading of 6.20 percent growth as compared to September's year-over-year growth rate of 5.40 percent. Inflation rose by 0.90 percent month-to-month in October as compared to September’s reading of 0.40 percent growth. Consumers paid more for essential goods including food, fuel, and transportation. October’s inflationary growth rate surpassed the Federal…

05

Nov

By Lori Blank

Financial Reports

FOMC Statement: Fed Policymakers Discuss Easing Accommodations as Economy Improves

The Federal Reserve’s Federal Open Market Committee considered easing monetary accommodations implemented in response to stronger economic conditions according to its post-meeting statement issued November 3. The Fed started making trillions in monthly bond purchases when the pandemic started but slowed its purchasing pace to $120 billion per month in June 2020. The Fed will soon reduce its monthly bond purchases to $105 billion monthly. The Fed said it will continue to purchase bonds until the economy makes “substantial progress” toward its legally mandated goals of achieving two percent inflation and maximum employment. Supply shortages and high demand for goods…

01

Nov

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – November 1, 2021

Last week’s economic reports included readings on home price growth from S&P Case-Shiller Home Price Indices, data on new home sales, and the University of Michigan’s Consumer Sentiment Index. Weekly readings on mortgage rates and jobless claims were also published. Case-Shiller: Home Price Growth Slower, but Prices Aren’t Falling National home prices rose by a seasonally-adjusted annual pace of 19.80 percent in August, which was incrementally lower than July’s year-over-year home price growth rate. Analysts said that rising mortgage rates caused some buyers to leave the market and eased demand in areas where bidding wars drove home prices beyond market…

25

Oct

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – October 25, 2021

Last week’s economic reporting included the National Association of Home Builders’ Housing Market Index reports on building permits issued and housing starts, The National Association of Realtors® reported on sales of previously owned homes, and weekly readings on mortgage rates and jobless claims were also published. NAHB: Builder Confidence Improves in September The National Association of Home Builders reported an index reading of 80 for its September Housing Market Index. Analysts expected September’s index reading to match August’s reading of 76. Builders continued to face supply chain challenges and labor shortages amid growing concerns over rising home prices and affordability…

18

Oct

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – October 18, 2021

Last week’s economic reporting included readings on inflation, core inflation, and minutes of the Fed’s Federal Open Market Committee meeting held on September 22 and 23. Weekly readings on mortgage rates and jobless claims were also published. September’s Consumer Price Index rose by 0.10 percent to 0.40 percent. The Core Consumer Price Index for September, which excludes volatile food and fuel sectors, rose by 0.10 percent to 0.20 percent and fell short of the expected reading of 0.30 percent growth. Feds’ FOMC Meeting Minutes: Policymakers Consider Tapering Securities Purchases Minutes of the Federal Open Market Committee meeting held September 21…

11

Oct

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – October 11, 2021

Last week’s scheduled economic news included readings on public and private-sector jobs and the national unemployment rate. Weekly readings on mortgage rates and jobless claims were also published. Non-Farm Payrolls: Jobs Growth Dips Sharply in September U.S. jobs growth dipped sharply in September according to the federal government’s Non-Farm Payrolls report. 194,000 public and private sector jobs were added and fell far short of the expected reading of 500,000 jobs added. 366,000 public and private sector jobs were added in August. Hiring lagged as continuing concerns over Covid kept workers at home. Less hiring at public schools reduced September’s jobs…