28 Oct 2022
By RESCO Realty

S&P Case-Shiller Home Price Indices: U.S. Home Price Growth Slows in August

Financial Reports, ,
U.S home price growth slowed for the second consecutive month in August according to S&P Case-Shiller’s national home price index. National home price growth fell by -9.8 percent year-over-year as compared to July’s year-over-year reading of  -5.3 percent. Home price growth slowed by -1.1 percent month-to-month from July to August. Rising Mortgage Rates and Recession Worries Dampen Homebuyer Interest The Mortgage Bankers Association forecasted a recession in 2023 and expects mortgage rates to fall to approximately 5.40 percent by the end of 2023. Mike Fratantini, senior vice president and chief economist at the MBA, said: “The upside of [a potential…
Read More
24 Oct 2022
By RESCO Realty

What’s Ahead For Mortgage Rates This Week – October 24, 2022

Financial Reports, ,
Last week’s economic reporting included readings from the National Association of Home Builders on national and regional  U.S. housing markets. The National Association of Realtors® reported on sales of previously-owned homes, and the Commerce Department released readings on building permits issued and housing starts. Weekly readings on mortgage rates and jobless claims were also released. NAHB: Home Builder Confidence in Housing Market Falls for 10th Consecutive Month The National Association of Home Builders reported that home builder confidence in the U.S housing market fell for the 8th consecutive month in October; the organization described the situation as “unsustainable.” The NAHB…
Read More
10 Oct 2022
By RESCO Realty

What’s Ahead For Mortgage Rates This Week – October 10, 2022

Financial Reports, ,
Last week’s economic reporting included readings on construction spending, public and private sector job growth, and the national unemployment rate. Weekly readings on mortgage rates and jobless claims were also released. Construction Spending Falls in August The Commerce Department reported less construction spending in August as spending fell by -0.70 percent to $1.78 trillion as compared to July’s reading of $1.79 trillion. August construction spending was lower than the expected reading of -0.20 percent and July’s revised construction spending reading of -0.60 percent. Year-over-year construction spending rose by 8.50 percent. Mortgage Rates Mixed, Jobless Claims Rise Freddie Mac reported lower…
Read More