Last week's scheduled economic news was sparse due to no scheduled releases on Monday and the Veterans Day Holiday on Wednesday. A report on job openings was released on Thursday along with regularly scheduled weekly reports on jobless claims and Freddie Mac’s report on mortgage rates.
Last week's economic news included the National Association of Home Builders Index, Housing Starts and FHFA's report on August home sales. The National Association of Realtors released its monthly report on sales of previously owned homes.
Last week's economic reports included the Federal Open Market Committee Meeting Minutes and Weekly Jobless Claims. Also, the new mortgage TRID rules went into effect. Here are the details:
Last week's economic releases included several reports related to housing. The Wells Fargo/ NAHB Housing Market Index achieved its highest reading in nearly 10 years. Housing Starts dipped in August and Building Permits issued in August exceeded July expectations. The week's big news was actually no news. The Fed's Federal Open Market Committee decided not to raise interest rates. Fed Chair Janet Yellen followed up on the FOMC statement with a press conference and said that the Fed is not yet ready to raise rates, but that a majority of FOMC members are prepared to raise rates before year-end.
Last week's economic news included Case-Shiller Home Price Index reports, the Fedâs FOMC meeting statement and pending home sales. Freddie Mac mortgage rates and weekly jobless claims were also released as usual.
According to the Case-Shiller 20-City Home Price Index for February, month-to-month home prices increased by 0.50 percent from Januaryâs reading and achieved the highest year-over-year gain in six months. Analysts expected February home prices to increase by 4.80 percent.
Mortgage rates ticked upward for fixed rate loans and were unchanged for 5/1 adjustable rate mortgages according to Freddie Mac. Weekly jobless claims were lower in spite of slower job growth reports.
According to the S&P Case-Shiller Home Price Index report for January, home prices grew by 4.50 percent year-over-year as compared to January 2014âs year-over-year price growth rate of 10.50 percent. This was the lowest rate of home price growth since 2012.
Last week's economic reports included job openings, retail sales, retail sales except automotive, consumer sentiment for March and the usual reports on weekly jobless claims and mortgage rates.
Last week's economic news included several housing-related reports that provided mixed results with lower than expected sales of previously owned homes and higher than expected sales of new homes.