Housing Market

23 Oct 2023

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…

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…

S&P Case-Shiller Housing Market Indices: Short Supply of Homes for Sale Pushes Prices Up

Financial ReportsCase Shiller, Financial Report, Housing Market

April readings for S&P Case-Shiller’s Housing Market Indices showed gains in home prices throughout the U.S. Rising prices were caused by shortages of previously-owned homes for sale and increasing buyer demand as the average 30-year mortgage rate exceeded six percent. The southeastern region lost its top spot on S&P Case-Shiller’s 20-City Home Price Index as Chicago, Illinois, Atlanta, Georgia, and Tampa, Florida held the top three year-over-year home price growth rates for April. Chicago, Illinois Breaks Southeast’s Lead on April Home Price Growth The top three cities with the highest home price growth rates as reported in April’s S&P Case-Shiller’s…