Category: Financial Reports

What’s Ahead For Mortgage Rates This Week – July 27, 2020

Last week’s economic reporting included readings on sales of new and previously owned homes. State and federal data on new and continuing jobless claims were released along with Freddie Mac’s weekly report on mortgage rates.

Sales of New and Existing Homes Rise in June

Sales of new homes rose at their highest rate in 13 years according to the Commerce Department. New homes sold at a seasonally-adjusted annual pace of 776,000 sales, which exceeded the expected reading of 710.000 new single-family homes sold and May’s reading of 682,000 new homes sold. Analysts said that increased interest in relocating to suburban areas and low mortgage rates fueled buyer interest in new homes.

What’s Ahead For Mortgage Rates This Week – July 13, 2020

Last week’s scheduled economic news included readings on consumer credit, job openings, jobless claims, and mortgage rates.

Consumer Borrowing Declined at Slower Pace in May

According to Federal Reserve data, consumer borrowing fell at a slower annual pace of -5.30 percent in May as compared to April’s reading of -20 percent. Non-revolving consumer credit, which includes vehicle and student loans, increased by 2.30 percent in May. The Federal Reserve does not report on real estate loans.