Last week’s economic news included readings on sales of new and previously-owned homes along with final March index readings on consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released.
What’s Ahead For Mortgage Rates This Week – March 1, 2021
Last week’s economic reports included readings from Case-Shiller on home prices, the Federal Housing Finance Agency also reported on home prices and the Commerce Department released data on sales of new homes and pending home sales. The University of Michigan released its Consumer Sentiment Index, and weekly readings on mortgage rates and jobless claims were released.
Case-Shiller Reports Home Prices Rise at Fastest Pace in 7 Years
S & P Case-Shiller Home Price Indices reported the fastest pace of U.S home price growth in seven years. National home prices grew by 10.40 percent year-over-year in December as compared to November’s reading of 9.50 percent home price growth on a year-over-year basis.
Case-Shiller: Home Prices Continue Rising in November
Case-Shiller Home Price Indices reported a year-over-year national home price gain of 9.50 percent for November 2020. Home prices continued to grow in response to high demand for homes and homeowner relocations in response to the covid-19 pandemic. Inventories of pre-owned homes remained low. Home prices rose at a slower pace in November but remained strong in most areas.
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