This week’s economic data, including existing home sales, jobless claims, GDP growth, and the PCE inflation report, may influence mortgage rates that are hovering around 7%. Higher inflation or strong economic indicators could lead to sustained or increased rates, prompting buyers to consider locking in rates early.
Category: Housing Market
Week Ahead: Economic Factors Driving Up Mortgage Rates
Mortgage rates are facing upward pressure as the bond market reacts to a resilient U.S. economy. Last week’s employment report showed better-than-expected job gains, pushing the 10-year Treasury yield near 5%. Rising energy prices are also adding to inflationary pressures, making it less likely for the Federal Reserve to ease interest rates soon. This week,…
Why Local Chicago Agents Are Essential for Home Buying in 2024 – They are your Secret Weapon
Chicago Real Estate Agents: Your Secret Weapon for Buying a Home in 2024
Navigating Chicago’s housing market in 2024 is no easy feat, especially for first-time homebuyers. With inventory tight and competition fierce, it can feel overwhelming to find the right home and secure it before someone else does. That’s where the expertise of a local real estate agent comes in. More than just a guide, a knowledgeable agent is your secret weapon—here’s why:
Interest Rates: Insights from the October 2024 Economic Data
As we kick off the week, all eyes are on the Federal Reserve and upcoming economic indicators that could impact mortgage rates. Here’s what to watch for:
Change in Home Values after 10 Years
Talk about a winning record! Buying a home and holding it for 10 years has earned a profit every year except one since 1942. Just look at those returns, too! Housing builds significant, long-term wealth. #homebuyers #homeprices #realestate #mbshighway #mbssocialshare #mortgagemarketnews #mortgageintheknow
S&P Case-Shiller Home Price Indices: National Home Price Growth Slows in May
U.S. home prices rose in May, but at a slower pace. S&P Case-Shiller’s National Home Price index reported year-over-year home price growth of 19.70 percent in May as compared to April’s record year-over-year home price growth pace of 20.60 percent.
S&P Case-Shiller Home Price Indices: National Home Price Growth Slows in May
U.S. home prices rose in May, but at a slower pace. S&P Case-Shiller’s National Home Price index reported year-over-year home price growth of 19.70 percent in May as compared to April’s record year-over-year home price growth pace of 20.60 percent.
S&P Case-Shiller Home Price Indices: National Home Price Growth Slows in May
U.S. home prices rose in May, but at a slower pace. S&P Case-Shiller’s National Home Price index reported year-over-year home price growth of 19.70 percent in May as compared to April’s record year-over-year home price growth pace of 20.60 percent.
S&P Case-Shiller Home Price Indices: National Home Price Growth Slows in May
U.S. home prices rose in May, but at a slower pace. S&P Case-Shiller’s National Home Price index reported year-over-year home price growth of 19.70 percent in May as compared to April’s record year-over-year home price growth pace of 20.60 percent.
NAHB: Home Builder Confidence Drops in January
Homebuilder confidence in housing market conditions dipped two points in January; ongoing challenges including labor shortages and materials costs were cited by the National Association of Home Builders, which provides monthly readings on home builder sentiment. Three component readings of the Housing Market Index declined by one point each. Readings for current sales conditions, housing market conditions for the next six months and for buyer traffic within new single-family housing developments were 79, 78 and 54 respectively.
Emma Butler Group- Mortgage Tips & Community 