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

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

The most important data of the quarter was released, signaling the direction for many markets and where economic policy may be headed. Jerome Powell as well as other members of the Federal Reserve spoke about the state of economic policy, informing many parties about their decisions to remain hawkish or dovish in their approach. Further rate hikes could tell a story that inflation is not yet under control and the Federal Reserve feels the need to continue these rate hikes, which will have a significant impact on the lending markets as a whole. FOMC Rate Decision While Fed Chair Jerome…
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Economic Insights: Navigating Inflation, Mortgages, and Consumer Sentiment – 9/18/2023

Economic Insights: Navigating Inflation, Mortgages, and Consumer Sentiment – 9/18/2023

Last week, we witnessed a mix of economic updates, encompassing various facets of the financial landscape, including inflation trends, consumer sentiment, and the weekly fluctuations in mortgage rates and unemployment claims. Inflation Sees a Modest Uptick in August On September 13th, the latest monthly inflation data was released, revealing a 0.3 percent increase in core inflation for August compared to July. This figure slightly exceeded the expected 0.2 percent rise and surpassed July's 0.2 percent increase. According to the Consumer Price Index, August recorded a year-over-year inflation rate of 3.7 percent. Zooming out for a broader perspective, inflation in the…
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What’s Ahead For Mortgage Rates This Week – April 10, 2023

Last week's economic reporting included readings on construction spending and labor sector readings on employment and the national unemployment rate for March. Weekly readings on mortgage rates and jobless claims were also released. Commerce Department: February Construction Spending Falls The U.S. Commerce Department reported less construction spending in February than in January as construction spending fell by 0.10 percent to a year-over-year reading of $1.844 trillion for all types of construction. Year-over-year construction spending increased by 5.20 percent.  While total construction spending fell in February, residential construction spending increased. Spending on single-family home construction slowed due to builders’ concerns over…
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