This week's economic review centers on job growth, which ended the year softer than expected. Mortgage rates, which had been on a 9-week climb, experienced the first drop (12 basis points) since November.
This week in economic news mortgage rates continued their climb for the ninth straight week, according to HousingWire, consumer confidence continued strengthening and pending home sales felt the squeeze of rising mortgage rates.
Mortgage rates hit a two and a half year high this week after the Fed announced their expected decision to raise the federal funds rate. Existing home sales and new home sales made surprising strides in November as dwindling supply put pressure on home prices.
Major economic news this week centered around the steady rise of mortgage rates, the anticipated Fed decision and retail sales.
This week in economic news mortgage rates continued their climb, job openings declined and daily consumer spending continued to grow in November.
This week's economic review includes mortgage rates, which reached highs not seen in over a year. Meanwhile, employment reports indicated strength in payroll growth while the unemployment rate fell.
Major economic reports released this week included new and existing home sales, as well as home pricing. Mortgage rates continued to climb causing volatility in mortgage applications.
This week’s economic reports centered on consumers and new home construction. Mortgage rates ended the week higher and not far from where they were a year ago.
Following this week’s election results, mortgage rates jumped to a 5-month high. While September job openings saw little change, labor market conditions are continuing to show optimism, alongside consumer reports.
This week’s economic news centered in on job growth, increasing wage strength, an as-expected decision from the Federal Reserve and increasing mortgage rates.