The Bureau of Economic Analysis (BEA) released today (4-28-22) its “advance” estimate for real gross domestic product (GDP) in Q1 of 2022. According to the report, GDP decreased at an annual rate of -1.4%, following an increase of 6.9% in Q4 of 2021.
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Mortgage Rates: 30-Year Ticks Down, 15-Year Ticks Up in the Week Ending April 28, 2022
Freddie Mac has released its Primary Mortgage Market Survey (PMMS) for the week ending April 28, 2022. The PMMS reports that the 30-year fixed-rate mortgage averaged 5.10% with an average 0.8 point, down from last week when it averaged 5.11%. A year ago, at this time, the 30-year FRM averaged 2.98%.
Weekly Jobless Claims Move Lower in the Week Ending April 23, 2022
The U.S. Department of Labor is reporting that an additional 180,000 Americans (seasonally adjusted) made their initial filing for unemployment benefits during the week ending on Saturday, April 23, 2022. This is a decrease of 5,000 from the previous week’s revised level. The 4-week moving average was 179,750.
Pending Home Sales Decline for Fifth Consecutive Month in March—Down Year-Over-Year
The National Association of Realtors® reported on Wednesday (4-27-22) their Pending Homes Sales Index (PHSI), which is based on signed real estate contracts, not actual closings, for existing single-family homes, condominiums, and co-ops. In March, the PHSI declined -1.2% from February to a reading of 103.7.
Quarterly Residential Vacancies and Homeownership Report Released for Q1 of 2022
The U.S. Census Bureau today (4-27-22) announced the results of its Residential Vacancies and Homeownership statistical survey for 2022 Q1. According to the report, the national vacancy rate in Q1 was 5.8% for rental housing. The rental vacancy rate was -1.0% points lower than the rate in Q1 of 2021 (6.8%).
Mortgage Applications Decline for Seventh Week in a Row During the Week Ending April 22, 2022
According to data from the Mortgage Bankers Association’s Weekly Mortgage Application Survey, for the week ending April 22, 2022, the Market Composite Index (a measure of mortgage loan application) volume declined -8.3% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased -7.0%.
New Single-Family Home Sales Decline Month-Over-Month and Year-Over-Year in March 2022
The U.S. Census Bureau and the Dept. of Housing and Urban Development jointly announced on Tuesday that new residential single-family home sales for March 2022 were at a seasonally adjusted annual rate of 763,000, according to estimates.
FHFA Home Price Index Up 2.1% Month-Over-Month and 19.4% Year-Over-Year in February 2022
According to the latest Federal Housing Finance Agency (FHFA) House Price Index (HPI®) released today (4-26-22), U.S. house prices increased 2.1% month-over-month in February. House prices increased 19.4% from February 2021 to February 2022.
U.S. Home Prices Post 19.8% Year-Over-Year Gain in February 2022
According to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported today (4-26-22), which covers all nine U.S. Census divisions, home prices experienced a 19.8% annual gain in February, following a 19.1% annual gain in January.
The Conference Board’s Consumer Confidence Index Declines Modestly Month-Over-Month in April 2022
The Conference Board today (4-26-22) released their Consumer Confidence Index® (CCI) for April 2022. The CCI declined slightly in April after a modest increase in March. The Index (1985=100) now stands at 107.3, down from 107.6 in March.