What’s Ahead For Mortgage Rates This Week – April 17, 2022

Last week’s economic reporting included readings on inflation, retail sales, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. March Inflation Slows as Retail Sales Fall Inflation slowed to a month-to-month pace of 0.10 percent in March as compared to February’s reading of 0.40 percent growth. Year-over-year inflation rose by 5.00 percent and fell short of analysts’ expected reading of 5.10 percent year-over-year inflation and February’s year-over-year inflation rate of 6.00 percent. Core inflation, which excludes volatile readings for food and fuel, rose by 0.40 percent in March and matched analysts’ expectations.  The year-over-year reading…
Read More

What’s Ahead For Mortgage Rates This Week – April 3, 2023

Last week’s economic reporting included readings on home prices, inflation, and pending home sales. Weekly readings on mortgage rates and jobless claims were also published. S&P Case-Shiller Home Price Indices Report Slower Home Price Growth in January Home price growth cooled in January according to S&P Case-Shiller’s 20-City Home Price Index. Home prices increased by 2.50 percent year-over-year in January but rose at a slower pace than December’s reading of 4.60 percent. The FHFA Home Price Index also showed slower growth in January with year-over-year home price growth of  5.30 percent as compared to December’s home price growth rate of…
Read More

S&P Case-Shiller: December Home Price Growth Slows

Home price growth slowed in December according to the S&P Case-Shiller 20-City Home Price Index. Year-over-year home prices rose by 4.6 percent in December as compared to November’s reading of 6.8 percent growth. Rising mortgage rates caused home prices to dip as potential buyers delayed home purchases and demand for homes fell. Craig J. Lazzara, managing director of S&P Dow Jones Indices, said: “The prospect of stable, or higher mortgage rates means that mortgage financing remains a headwind for home prices, while economic weakness, including the possibility of a recession, may also constrain potential buyers. Mr. Lazzara concluded: “Given these…
Read More