The 30-year fixed-rate mortgage averaged 6.65%, down from last week when it averaged 6.67%, Freddie Mac reported.
News in end use
US Real GDP Increases at an Annual Rate of 2.4% in Q4, BEA Reports in Its “Third” Estimate
Real GDP increased at an annual rate of 2.4% in Q4, following an increase of 3.1% in Q3.
US Mortgage Application Payments Unchanged in February
The MBA Purchase Applications Payment Index increased 0.1% to 166.2 in February from 166.1 in January.
US Weekly Initial Jobless Claims Inch Lower in the Week Ending March 22
The advance figure for seasonally adjusted initial unemployment claims was 224,000, a decrease of 1,000 from the previous week’s revised total.
US Mortgage Applications Decline in the Week Ending March 21
Mortgage loan application volume decreased 2.0% on a seasonally adjusted basis from one week earlier, MBA reported.
New US Residential Single-Family Home Sales Rise 1.8% in February
New residential single-family home sales for February were at a seasonally adjusted annual rate of 676,000, 1.8% above the revised January rate.
FHFA House Price Index Posts 4.8% Annual Increase in January
The FHFA House Price Index rose 0.2% in January. Year-over-year, prices increased 4.8%.
S&P CoreLogic Case-Shiller Index Reports 4.1% Annual Gain in US Home Prices in January
The S&P CoreLogic Case-Shiller US National Home Price NSA Index posted an annual gain of 4.1% in January, a slight increase from December.
US Consumer Confidence Index Declines for Fourth Consecutive Month in March
The Conference Board Consumer Confidence Index declined 7.2 points to a reading of 92.9 (1985=100).
Nonresidential Construction Backlog Declines in February; Contractor Optimism Remains High
The ABC Construction Backlog Indicator declined to 8.3 months in February. Year-over-year, the measure was up 0.2 months.