What’s Ahead For Mortgage Rates This Week – June 12, 2023
Last week’s scheduled economic news included results from Fannie Mae’s National Housing Survey and weekly readings on mortgage rates and jobless claims.
What’s Ahead For Mortgage Rates This Week – June 5, 2023
Limited supplies of homes for sale drove home prices up in March. Home prices rose by 0.40 percent month-to-month as compared to 0.70 percent year-over-year. Cities with the highest rates of home price growth were Miami, Florida, where home prices rose 7.70 percent year-over-year, Tampa, Florida with a year-over-year pace of 4.80 percent home price growth, and Charlotte, North Carolina, where home prices rose by 4.70 percent year-over-year.
S&P Case-Shiller Home Price Indices Show Mixed Readings in March
Homeowners took a “wait and see” position as mortgage rates rose and concerns over the economy persisted. Those who refinanced their mortgages to low rates during the pandemic weren’t looking to buy new homes or refinance at current mortgage rates near seven percent. Prospective homebuyers faced affordability challenges and concerns over buying at the top of their local real estate markets.
What’s Ahead For Mortgage Rates This Week – May 22, 2023
Last week’s economic reporting included readings on U.S. housing markets, sales of previously-owned homes, housing starts, and building permits issued. Weekly readings on mortgage rates and jobless claims were also released.