Last week’s weeks economic releases included readings on the NAHB Housing Market Index, housing starts and building permits issued and consumer sentiment. Weekly readings on mortgage rates and new jobless claims were also released.
What’s Ahead For Mortgage Rates This Week – June 13, 2016
Last week’s economic news was highlighted by Fed Chair Janet Yellen’s speech in Philadelphia. Although Chair Yellen alluded to future Fed rate hikes, she did not specify when Fed policymakers would next raise the target federal funds rate.
What’s Ahead For Mortgage Rates This Week – June 6, 2016
Last week’s housing related news was limited to Construction Spending and Freddie Mac’s mortgage rates survey, but labor reports suggested an economic slowdown may be in the works.
Case-Shiller: Home Price Growth Expands to All Metro Areas
March home prices were again dominated by the Northwest with Portland, Oregon posting a year-over-year gain of 12.30 percent followed by Seattle, Washington’s year-over-year gain of 10.80 percent.
Fed Holds Steady on Federal Funds Rate
In its post-meeting statement, the Federal Open Market Committee (FOMC) of the Federal Reserve announced its decision not to raise the current federal funds rate of 0.25 to 0.50 percent. Although FOMC members acknowledged further improvement in the U.S. economy and jobs markets.
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