29 Jan 2021
By RESCO Realty

Case-Shiller: Home Prices Continue Rising in November

Financial Reports, ,
Case-Shiller Home Price Indices reported a year-over-year national home price gain of 9.50 percent for November 2020. Home prices continued to grow in response to high demand for homes and homeowner relocations in response to the covid-19 pandemic. Inventories of pre-owned homes remained low. Home prices rose at a slower pace in November but remained strong in most areas. 20-City Home Price Index Reports Home Price Gains in 19 of 20 Cities November’s edition of the 20-City Home Price Index reported the highest year-over-year home price gain of 13.80 percent in Phoenix, Arizona, which held first place for the 18th…
Read More
19 Jan 2021
By RESCO Realty

What’s Ahead For Mortgage Rates This Week – January 19, 2021

Financial Reports, ,
Last week’s economic reports included readings on inflation, retail sales, and a speech by Federal Reserve Chair Jerome Powell. Weekly readings on mortgage rates and jobless claims were also released.  Inflation Rises as Retail Sales Fall, Fed  Says Current Monetary Policy Won’t Change The Consumer Price Index rose to 0.40 percent in December as compared to November’s reading of 0.20 percent. The CPI measures inflation and the Core CPI measures inflation without the volatile sectors of food and fuel. December’s Core CPI reading fell to a rate of 0.10 percent growth from November’s reading of 0.20 percent. Retail sales were…
Read More
04 Jan 2021
By RESCO Realty

What’s Ahead For Mortgage Rates This Week – January 4, 2021

Financial Reports, ,
Last week’s economic news included reports from Case-Shiller Home Price Indices and data on pending home sales. No weekly data on jobless claims were released due to the New Year holiday, but Freddie Mac did issue its weekly report on average mortgage rates. Case-Shiller Reports Home Prices Reached 6-Year High In October U.S. home prices reached their highest level in six years according to Case-Shiller’s National Home Price Index. Home prices rose by 8.40 percent year-over-year in October as compared to September’s home price growth reading of 7.00 percent. Demand for homes rose during the Covid pandemic as families moved…
Read More