Financial Report

27 Nov 2023

What’s Ahead For Mortgage Rates This Week – November 27, 2023

Financial ReportsFinancial Report, Jobless Claims, Mortgage Rates

There will be a very light week with the Holiday season approaching. The only notable reports to have come out for the week are the U.S. economic leading indicators, with nothing scheduled around Thanksgiving weekend. The median forecast for the leading indicators has shown that with the rest of the CPI and PPI data among other economic statistics, the economy does seem to be heading towards a soft landing as the Federal Reserve had initially targeted. The most notable changes are lending partners cutting rates with the potential for shifting economic policies and rate cuts in the future. U.S. Leading…

20 Nov 2023

By Lonny Levine

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

Financial ReportsFinancial Report, Jobless Claims, Mortgage Rates

With the release of the CPI and PPI data, much of the broader market has been anticipating the potential cooling of inflation numbers month-to-month and those expectations have been met. There’s a consistent trend of inflation slowing down which brings a greater potential for the end of any rate hikes from the Federal Reserve, signaling a soft-landing for the economy which has been touted by Jerome Powell. With a soft landing, it does also signal a strong potential for the Federal Reserve to begin lowering rates in the coming future. Consumer Price Index Despite the report beating inflation expectations and…

13 Nov 2023

By Lonny Levine

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

Financial ReportsConsumer Credit Reports, Financial Report, Jobless Claims

The week following the FOMC rate decision meetings are typically very light, with the two most influential releases being the University of Michigan Consumer Sentiment and the weekly Job Claims reports. The more positive news is mortgage lending rates have been on the decline in the last two weeks. Consumer Credit Reports Consumer sentiment fell in November for the fourth month in a row due to tensions with the Middle East and there is lingering hawkishness from the Federal Reserve, which could spell continued rate hikes in the future. The preliminary reading of the sentiment survey declined to 60.4 from…

30 Oct 2023

By Lonny Levine

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

Financial ReportsFinancial Report, Jobless Claims, Mortgage Rates

This week’s most significant data offered preliminary numbers for manufacturing and services PMI (Purchasing Managers Index). Both can serve as a forward indicator for the economy while providing insight into the current state of the cost of living for the service industry. While manufacturing met an expected rise for the end of October, services saw a contraction, falling to 46.6 from 49.3. Readings below 50.0 can be a sign of a downturn for the economy, particularly given the time of the year. Mortgage Applications & Rates Indices MBA Mortgage Applications Index saw a reduction of -1.0% in applications for the…

23 Oct 2023

By Lonny Levine

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What’s Ahead For Mortgage Rates This Week – October 23, 2023

Financial ReportsFinancial Report, Housing Market, Mortgage Rates

This week featured the usual retail sales report which shows consumer demand and as well as an indicator of the velocity of money, not only for consumers but business to business as well. An increase would show an increase in national and local increase in economic activity, which is important as we move into Q4 of the year; where the holiday season is expected to see an increase in consumer activity. Retail Sales Retail sales have exceeded expectations this month showing month-to-month increases across the board: Retail sales are up 0.7% from the previous month with an expected increase of…

02 Oct 2023

By Lonny Levine

Mortgage Rate Projections: Week of October 2nd, 2023

Financial ReportsConsumer Index, Financial Report, Mortgage Rates

Last week, consumers were treated to several indicators on inflation that not only paint a picture of the economy’s health but also give the Fed more information to work with as it continues to aim for a soft landing. August Sees a Slight Upward Trend in Inflation This week, the personal consumption expenditures price index, which excludes more volatile commodities like food and energy, increased 0.1 percent for the month. This is lower than the expected value of 0.2 percent, which indicates that the rising interest rates are starting to have an impact on the economy as the Fed continues…

11 Sep 2023

By Lonny Levine

What’s Ahead For Mortgage Rates This Week – September 11, 2023

Financial ReportsFinancial Report, Jobless Claims, Mortgage Rates

Last week’s scheduled economic reporting was limited due to the U.S. Labor Day holiday on Monday. The Federal Reserve released its Beige Book report and weekly readings on mortgage rates and jobless claims were also published. Federal Reserve Releases Beige Book Report The Beige Book report is a summary of information supplied to Federal Reserve policymakers by their business and professional contacts. Highlights of September’s Beige Book report included: Accelerated leisure spending by consumers boosted economic growth during July and August. Non-essential retail sales slowed, but the economy was boosted by a final stage of post-COVID-19 pent-up demand. Prices for…

07 Sep 2023

By Lonny Levine

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Mortgage Rates This Week – September 5, 2023

Financial ReportsCase Shiller, Financial Report, Housing Market

Last week's economic data encompassed key indicators such as inflation, consumer sentiment, mortgage rates, and jobless claims. Steady Inflation Rates in August In August, the month-to-month inflation rate exhibited resilience, holding relatively steady at 3.18 percent. While this marks a slight increase from the 2.97 percent recorded the previous month, it stands significantly lower than the daunting 8.52 percent seen a year ago. When compared to the long-term average of 3.2 percent, inflation seems to be trending in the right direction. July saw inflation rise at a pace of 0.20 percent, aligning with analysts' expectations. There was no discernible shift…

14 Aug 2023

By Lonny Levine

What’s Ahead For Mortgage Rates This Week – August 14, 2023

Financial ReportsFinancial Report, Jobless Claims, Mortgage Rates

Last week’s economic reporting included readings on inflation, consumer sentiment, and weekly readings on mortgage rates and jobless claims. Inflation Rate Holds Steady in July Month-to-month inflation rose at a pace of 0.20 percent in July and met analysts’ expectations. There was no change in the pace of month-to-month inflation from June’s reading of 0.20 percent growth. The Consumer Price Index also reported that year-over-year inflation reached 9.10 percent, which was the highest reading since reaching a 40-year high in mid-2022. Core inflation, which excludes volatile food and fuel prices, was unchanged from June’s month-to-month pace of 0.20 percent growth.…

07 Aug 2023

By Lonny Levine

What’s Ahead For Mortgage Rates This Week – August 7, 2023

Financial ReportsCase Shiller, Financial Report, Mortgage Rates

Last week’s scheduled economic reporting included readings on construction spending, public and private sector payroll growth, and the national unemployment rate. Weekly readings on mortgage rates and new jobless claims were also released. Construction Spending Slips in June U.S. construction spending slipped by 0.60 percent to 0.50 percent growth in June; analysts expected a month-to-month reading of 0.70 percent growth in construction spending. Year-over-year construction spending increased by 3.50 percent of which single-family residential construction accounted for 2.10 May’s reading for construction spending was revised from 0.90 percent growth to 1.10 percent growth from May to June. Private residential construction…