Market Movement 4.12.21

Mortgage rates trended downward last week as the bond market remained relatively strong. In other market news, job openings jumped to their highest level in over two years. Mortgage application submissions slowed for both purchases and refinances. Consumer credit had the largest gains since November 2017. Initial jobless claims increased but continuing claims fell. Mortgage […]

Market Movement 4.5.21

Mortgage rates trended upward in the beginning of the week but began falling during the latter half of the week. Home prices surged according to both the FHFA home price index and the Case-Shiller home price index. Consumer confidence jumped to its highest level in a year.  Mortgage applications slowed. ADP employment saw its largest […]

Market Movement 3.29.21

Market Movement

Mortgage rates trended downward last week for the first time in several weeks. Both existing home sales and new home sales fell. Mortgage application submissions decreased for refinances but increased for purchases. Jobless claims dropped to a new pandemic low, and GDP grew. Personal income and consumer spending declined while inflation increased slightly. Consumer sentiment […]

Market Movement: For the Week of 3.22.21

Market Movement

The Federal Reserve announced last Wednesday that it was leaving the benchmark interest rate near zero. However, mortgage rates trended upward – likely due to what the Fed claims is temporary inflation. Retail sales fell in February. In other housing news, home builder confidence dropped to its lowest level in seven months. Mortgage application submissions […]

Market Movement 3.8.21

Market Movement

Mortgage rates trended downward last week. Construction spending hit an all-time high in January. Mortgage application submissions increased. The ADP employment report showed increases as well. Initial jobless claims rose while continuing jobless claims fell. Average hourly earnings saw gains, while average weekly hours declined slightly. Nonfarm, manufacturing, and private payrolls all surged. The unemployment […]