Last week’s economic reports included readings on inflation, the minutes of the most recent meeting of the Fed’s Federal Open Market Committee and weekly reports on mortgage rates and first-time jobless claims. The University of Michigan released its Consumer Sentiment Index for April. Continue reading
Last week’s economic releases included readings from Case-Shiller, pending home sales, and consumer sentiment. Weekly reports on mortgage rates and first-time jobless claims were also released. Continue reading
March home prices were again dominated by the Northwest with Portland, Oregon posting a year-over-year gain of 12.30 percent followed by Seattle, Washington’s year-over-year gain of 10.80 percent. Continue reading
Last week’s economic reports included new home sales, pending home sales along with weekly mortgage rates and new jobless claims. Continue reading
Last week brought a mixed bag of economic news, but most notably, average mortgage rates fell.
New home sales surpassed expectations and consumer sentiment rose for July; these readings among others suggest that the economy continued to improve and that consumer confidence in the economy improved as well. Continue reading
Last week saw a relatively quiet week due to the 4th of July holiday, but there were some housing-related developments:
Monday: The Department of Commerce reported that overall construction spending increased by 0.50 percent in May to a seasonally adjusted annual rate of $874.9 billion. Residential construction grew by 1.20 percent, and May 2012 construction spending was 5.40 percent higher than in May 2012.
More spending in residential construction can indicate builder confidence in housing markets; added construction could help ease low inventories of available homes. Continue reading
The past week was active for economic news and mortgage rates. The aftermath of the Fed’s indication that it may start dialing back its multi-billion dollar monthly purchases of Treasury and mortgage backed securities has sent mortgage rates to record highs.
If you’re thinking of buying a home, this may be the last chance for finding the best deal on mortgage rates; meanwhile, home prices continue trending up as well. Continue reading