As a consumer, understanding these economic trends can empower you to make informed decisions about your mortgage. Let’s discuss some key economic factors that influence mortgage lending and what they mean for you.
What’s Ahead For Mortgage Rates This Week – September 5, 2023
Inflation rose at a pace of 0.20 percent in July and met analysts’ expectations. There was no change in the pace of month-to-month inflation from June’s reading of 0.20 percent growth. The Consumer Price Index also reported that year-over-year inflation reached 9.10 percent, which was the highest reading since reaching a 40-year high in mid-2022.
S&P Case-Shiller Housing Market Indices: Short Supply of Homes for Sale Pushes Prices Up
The top three cities with the highest home price growth rates as reported in April’s S&P Case-Shiller’s 20-City Home Price Index were Chicago, Illinois with a year-over-year home price gain of 4.10 percent; Atlanta, Georgia posted a year-over-year home price growth of 3.50 percent.
The Importance Of Pre-Approval During The Homebuying Process
If you want to buy a home in the near future, you are probably aware of just how competitive the housing market is. You need to put yourself in the best position possible to be successful by getting pre-approved for a home loan.
What’s Ahead For Mortgage Rates This Week – August 1, 2022
Last week’s economic news included readings on home price growth, new and pending home sales, and inflation. Weekly reports on mortgage rates and jobless claims were also released.
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