April 2021 Inflation Made Monumental Climb as Home Sales Tailspin
After another exciting month, the data showed that April 2021 inflation continued its monumental climb.
Housing Inventory Continues to Really Compromise Home Sales Results
This past week was quiet seeing few economic developments, though housing inventory continues to really compromise home sales results.
Inflation Spiked This Week Leading to New Mortgage Rate Reckoning
Inflation spiked this week leading to a new mortgage rate reckoning. As a result, mortgage rates ended higher.
Job Gains See a Startling Plummet Lowering Mortgage Rates
This past week marked disappointment in the labor market as job gains see a startling plummet. The major economic data accompanied by Friday's labor market report fell well below analyst expectations.
New Home Sales Skyrocket Though Mortgage Markets Barely Change
Looking at the recent data, new home sales skyrocket though mortgage markets barely changed. Mixed economic data caused little reaction.
Impressive Market Growth Despite the Decline in Mortgage Rates
This past week, the United States realized impressive market growth despite the decline in mortgage rates.
How the Service Sector Growth Fuels the Expanding Economy
This week’s story focused on how the service sector growth fuels the expanding economy, though mortgage weeks declined slightly.
Impressive Employment Gains & Manufacturing Sector
In this past week’s labor market reporting, the economy realized impressive employment gains and manufacturing sector strength. As a result, both exceeded expectations. In spite of this positivity, mortgage rates ended the week with little change. Impressive Employment Gains Analysts finally learned the latest on Employment in the report released Friday, April 2nd, 2021. To the surprise of many, the data displayed impressive employment gains. Overall, the United States economy gained 916,000 jobs. This result is far above the consensus forecast of 625,000. In addition, the prior month showed revised results to the addition of 156,000 jobs. In particular, the hospitality and construction sectors exhibited strength. This is fantastic news given that both the hospitality and construction industries suffered at the onset of the coronavirus pandemic. Impressive Employment Gains Lead to Unemployment Rate Decline Because of the impressive employment gains, the unemployment rate saw a decline. Thus, the unemployment rate dropped from 6.2% to 6.0%. This result matched expectations. On the other hand, the economy expressed a decline in average hourly earnings. Generally, economists consider average hourly earnings to be an indicator of wage growth. The average hourly earnings fell slightly from February, below the consensus for a modest increase. [...]
Home Sales Stumble with Low Housing Inventory This Year
After the previous bounce back, this past week saw home sales stumble. Meanwhile, mortgage rates also ended the week a little lower.
Mortgage Markets Had a Rough Week with New Virus
Mortgage markets had a rough week as investors pondered the appropriate yield levels for the current economic environment.