Whites House Team

  • Home
  • About Us
  • Blog
  • Our Listings
  • Buyer/Seller Info
    • First Time Home Buyer Tips
    • First Time Home Seller Tips
  • CIPS
  • Contact Us

What’s Ahead For Mortgage Rates This Week – February 6, 2023

February 6, 2023 by Linda White

What's Ahead For Mortgage Rates This Week - February 6, 2023Last week’s economic reporting included readings on home price growth from S&P Case-Shiller and the Federal Housing Finance Administration. Monthly reports on job growth and unemployment were released by the federal government and ADP. Weekly readings on mortgage rates and jobless claims were also released.

S&P Case-Shiller HPI: Home Prices Drop in November

S&P Case-Shiller Home Price Indices revealed that U.S. home prices fell for the fifth consecutive month in November. The National Home Price Index fell by -3.1 percent year over year in November as compared to a positive reading of 2.8 percent home price growth in October. Miami, Florida, Tampa, Florida, and Atlanta, Georgia held the top three places in the 20-City Home Price Index. Detroit, Michigan was the only city to post a positive reading for home price growth in November’s 20-City Home Price Index.

The Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, reported that prices of homes owned or financed by the two government-sponsored enterprises fell by 0.10 percent in November. Analysts expect that home prices will continue to fall in the coming months.

Mortgage Rates and Jobless Claims

Average fixed mortgage rates fell last week. Freddie Mac reported that the rate for 30-year fixed-rate mortgages fell by four basis points to 6.09 percent. Rates for 15-year fixed-rate mortgages fell by three basis points to 5.14 percent.

183,000 first-time jobless claims were filed as compared to the expected reading of 195,000 new jobless claims and the previous week’s reading of 186,000 first-time jobless claims filed. 1.66 million continuing jobless claims were filed as compared to the previous week’s reading of 1.67 million ongoing jobless claims filed.

Public and Private Sector Job Growth

The federal government’s Non-Farm payrolls report for January posted 517,000 jobs added as compared to the expected reading of 187,000 jobs added and December’s reading of 260,000 jobs added.ADP reported 106,000 private-sector jobs added in January as compared to expectations of 190,000 jobs added and December’s reading of 253,000 private-sector jobs added.

The national unemployment rate for January was 3.4 percent; analysts expected an unemployment rate of 3.6 percent and December’s unemployment rate was 3.5 percent. 

What’s Ahead

This week’s scheduled economic news includes readings on consumer sentiment, inflation, and weekly readings on mortgage rates and jobless claims.

Filed Under: Financial Reports Tagged With: Financial Report, Jobless Claims, Mortgage Rates

Linda White - Knapp Realty

Linda White

Call (702) 301-0648
NV - BS.0143690

Robert J White

NV - S.0056824

Knapp Realty
Search for Homes →

Questions about Short Sales?

What's my home worth?

Property Search

Let’s Keep In Touch!

  • This field is for validation purposes and should be left unchanged.

Connect with Us!

Hablamos Español!


日本語でどうぞ!

Categories

Equal Housing Opp

Looking For Something?

Quick Links

  • About Us
  • Accessibility Statement
  • Blog
  • Contact Us

Our Location

Linda & Robert White
Whites House Team at Knapp Realty


39 E Basic Rd.
Henderson, NV 89015


Direct (702) 301-0647 Cell (702) 301-0648 Fax 855-975-3237

Copyright © 2023 · Powered by MySMARTblog