Mortgage Rates

26

Jun

Financial Reports

What’s Ahead For Mortgage Rates This Week – June 26, 2023

Last week’s scheduled economic reports included readings on housing starts, existing home sales, and Federal Reserve Chair Jerome Powell’s congressional testimony. Weekly readings on mortgage rates and jobless claims were also released. National Home Builders Association Releases June Housing Market Index U.S. home builder confidence rose by five points to an index reading of 55 in June according to the National Association of Home Builders Housing Market Index. The June reading surpassed the expected reading of 51 and May’s housing market index reading of 50. Component readings for the Housing Market Index also rose as builder confidence in current market…

30

May

By lizlaurenb

Financial Reports

What’s Ahead For Mortgage Rates This Week – May 30, 2023

Last week’s economic news included readings on new and pending home sales and inflation. The final monthly reading for May consumer sentiment was released along with weekly readings on mortgage rates and jobless claims. Shortage of previously-owned homes for sale directs buyers to new homes Homeowners weren’t in a hurry to sell their homes due to the low mortgage rates they obtained during the pandemic. Current mortgage rates are higher than pandemic-era rates, which influenced homeowners to stay in their homes and keep their lower existing mortgage rates. Home buyers turned to new home developments as an alternative to shopping…

22

May

By lizlaurenb

Financial Reports

What’s Ahead For Mortgage Rates This Week – May 22, 2023

Last week’s economic reporting included readings on U.S. housing markets, sales of previously-owned homes, housing starts, and building permits issued. Weekly readings on mortgage rates and jobless claims were also released. NAHB: U.S. Home Builder Confidence Rises in May The National Association of Home Builders reported a five-point gain in home builder confidence in current housing market conditions in May. The index reading for May rose to 50 in May as compared to April’s reading of 45. Analysts expected a reading of 45 for May. Readings above 50 indicate a majority of home builders are positive about current housing market…

15

May

By lizlaurenb

Financial Reports

What’s Ahead For Mortgage Rates This Week – May 15, 2023

Last week’s scheduled economic reporting included readings on inflation, consumer sentiment, and weekly readings on mortgage rates and jobless claims. Inflation Rate Rises in April, Slower Pace Expected in Coming Months The U.S. Labor Department reported the month-to-month pace of inflation rose by 0.40 percent in April and matched analysts’ expectations. April’s reading surpassed the March reading of 0.10 percent month-to-month inflationary growth. Inflation rose by 4.90 percent year-over-year in April. Analysts expect inflationary growth to continue, but at a slower pace through 2023. Core inflation, which excludes volatile food and fuel sectors, rose at a month-to-month pace of 0.40…

26

Apr

By lizlaurenb

Real Estate

Mortgage Interest Rate Versus APR

When you go through the process of applying for a mortgage, you need to make sure you understand all of the terms on the page. Two of the most common numbers you will come across include the mortgage rate and the APR. Many people associate both of these numbers with interest rates, but you will probably notice that they are not quite the same. What are the differences between these two numbers, and how are they going to impact your mortgage loan? The Mortgage Interest Rate The first number you are probably going to look at is the mortgage interest…

03

Apr

By lizlaurenb

Financial Reports

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…

20

Mar

By lizlaurenb

Financial Reports

What’s Ahead For Mortgage Rates This Week – March 20, 2023

Last week’s economic reporting included readings on housing starts and building permits issued, the National Association of Home Builders Housing Market Index, and Fed Chair Janet Yellen’s Senate testimony. The Commerce Department reported on housing starts and building permits issued published, and a monthly reading on consumer sentiment was published. Weekly reports on mortgage rates and jobless claims were also released. Two bank failures instill fear in depositors In the aftermath of two bank failures last week, US Treasury Secretary Janet Yellen said that “the banking system is sound” during testimony to the US Senate last Thursday. When asked if…

13

Mar

By lizlaurenb

Financial Reports

What’s Ahead For Mortgage Rates This Week – March 13, 2023

Last week’s economic reporting included Fed chair Jerome Powell’s testimony to the House of Representatives, data on job growth, and weekly readings on mortgage rates and jobless claims. Fed: Chairman Powell says no decision on March rate hike Federal Reserve Chair Jerome Powell said that no decision has been made about raising the Fed’s target interest rate range in March. Mr. Powell said, “We have not made any decision about the March meeting. We’re not going to do that until we see the additional data.” Mr. Powell said that the Fed is not on a “pre-set path. We will be…

07

Mar

By lizlaurenb

Real Estate

Understand Your Options When You Refinance A Home Loan

Are you interested in refinancing your mortgage? There are a variety of reasons why you might want to refinance your home loan. For example, you might want to secure a lower interest rate, or you may want to reduce your monthly payment. You might even want to tap into the equity you have in your home for some quick cash. There are different loan options available, so you need to think carefully about which one is best for your needs. The Conventional Mortgage Refinance One of the first options you will consider is a conventional mortgage refinance. This could be…

06

Mar

By lizlaurenb

Financial Reports

What’s Ahead For Mortgage Rates This Week – March 6, 2023

Last week’s economic reporting included readings from S&P Case-Shiller home price indices, data on pending home sales, and weekly readings on mortgage rates and jobless claims. S&P Case-Shiller: December Home Price Growth Slows in 20-City Index Home price growth slowed in December according to S&P Case-Shiller’s 20-City Home Price Index. Home prices rose by 4.60 percent year-over-year as compared to November’s year-over-year home price growth rate of 6.80 percent. The top three cities for home price growth in the 20-City Index were Miami, Florida, Tampa, Florida, and Atlanta, Georgia. Former leading cities for home price growth have fallen to the…