Real Estate , ,

NAHB: Rising Demand for Homes Boosts Builder Confidence

Builder confidence in housing market conditions reached a new record high in November according to the National Association of Home Builders. November’s index reading of 90 was five points higher than in October. Index readings over 50 indicate positive builder sentiment toward market conditions. Readings for the Housing Market Index fell below 50 in April and May as the COVID-19 pandemic grew. Component readings for the Housing Market Index rose six points to 96 for current housing market conditions and one point to 89 for builder confidence in home sales in the next six months. Builder confidence in buyer traffic…
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Financial Reports , ,

What’s Ahead For Mortgage Rates This Week – May 18th, 2020

Last week’s economic news included readings on inflation, retail sales, and a speech by Federal Reserve Chair Jerome Powell. The University of Michigan released a preliminary reading of its Consumer Sentiment Survey; weekly readings on mortgage rates and initial jobless claims were also released. April Inflation and Retail Sales in Negative Territory Consumer prices fell in April to a negative reading of -0.80 percent and matched expectations. The Core Consumer Price Index, which excludes volatile food and energy sectors, fell to -0.40 percent from -0.10 percent in March. Analysts expected a reading of -0.20 percent. Consumer Price Indices are used…
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Financial Reports , ,

What’s Ahead For Mortgage Rates This Week – May 11th, 2020

Last week’s economic releases included readings on public and private sector employment, the national unemployment rate. Economic Destruction Continues as Coronavirus Spreads ADP reported 20.2 million private-sector jobs lost in April as compared to 149,000 jobs lost in March. The government’s Non-Farm Payrolls report showed -20.5 million public and private-sector jobs lost in April as compared to -870,000 jobs lost in March. Both of these jobs reports typically show job growth, but they now report jobs lost due to the coronavirus pandemic and efforts to control it. Likewise, the national unemployment rate grew in April to 14.70 percent as compared…
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