Last week’s economic reports included data from the Federal Reserve on student loan debt, job openings and retail sales. Weekly jobless claims and Freddie Mac’s survey of average mortgage rates were released as usual on Thursday. A report on consumer sentiment wrapped up the week’s scheduled economic new.
Home Builder Confidence Rises in April
The National Association of Home Builders (NAHB) reported that April’s Housing Market Index rose from a reading of 52 in March to 56 for April. This is in line with warmer weather and the peak home buying season in spring and summer. Readings over 50 indicate that more builders view market conditions as positive as those who do not. NAHB members cited lower mortgage rates and better labor market conditions as reasons they expect more home buyers to enter the market.
FOMC Minutes: Housing Market Stable But Slow
The minutes of the March meeting of the Fedâs Federal Open Market Committee (FOMC) were released Tuesday and included a staff review of current economic conditions. The minutes noted that while labor markets continued to grow, inflation to the Fedâs target rate of 2.00 percent was impeded by dropping fuel prices. The Committee noted that expectations for longer-term inflation remained stable.
FOMC Statement: Federal Reserve Discusses Rate Increase, but Concerned About Growth
The post-meeting statement of the Federal Reserve’s Federal Open Market Committee indicated that while the Fed is considering raising its target rate as early as June, the agency is in no hurry to cast anything in cement. The statement cited stronger labor markets and low unemployment rates as encouraging, but noted that FOMC members remain concerned about economic growth due to low inflation failing to meet the FOMC goal of two percent.
FHFA House Price Index Rises for 14th Consecutive Quarter
According to the Federal Housing Finance Agency (FHFA), U.S. home prices rose by 1.40 percent for the fourth quarter of 2014 and were up by 0.80 percent month-to-month from November. The seasonally adjusted FHFA House Price Index measures purchase transactions for homes connected with mortgages owned by Fannie Mae and Freddie Mac.
Fed Not in a Hurry to Raise Rates: FOMC Meeting Minutes
Federal Open Market Committee policymakers are in no hurry to raise the target federal funds rate. Members said that raising rates too soon could swamp the strengthening economy and expressed concerns that changing the committeeâs current “patient” stance on rising rates could cause more harm than good to current economic conditions.
What’s Ahead For Mortgage Rates This Week – February 16, 2015
Last week’s economic news included an index of labor market conditions provided by the Federal Reserve, a report on small business sentiment, and a report from the Labor Department on job openings. Weekly jobless claims, Freddie Mac’s mortgage rates report and a report on Consumer Sentiment rounded out the week.
What’s Ahead For Mortgage Rates This Week – Feburary 9, 2015
Last week’s economic news included construction spending, which fell shy of expectations but exceeded the prior month’s spending, and several consumer and labor-related reports.
What’s Ahead For Mortgage Rates This Week – January 20, 2015
Last week’s scheduled economic news was mixed. Job openings increased and jobless claims increased, and consumer sentiment rose. Mortgage rates fell across the board. Labor market conditions improved and consumer prices fell in large part due to decreasing fuel prices.
What’s Ahead For Mortgage Rates This Week – January 20, 2015
Last week’s scheduled economic news was mixed. Job openings increased and jobless claims increased, and consumer sentiment rose. Mortgage rates fell across the board. Labor market conditions improved and consumer prices fell in large part due to decreasing fuel prices.
