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What's Ahead For Mortgage Rates This Week - September 19, 2022Last week’s economic reporting included readings on inflation, retail sales, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released.

Consumer Inflation Rate Falls as Gas Prices Decrease

Lower gas prices was welcomed news to consumers last week, but analysts said that high inflation would continue to impact consumer goods including groceries. The core inflation rate, which excludes volatile food and fuel prices, rose by 0.60 percent, which was twice the expected month-to-month pace of  0.30 percent. Rapidly rising inflation could cause the Federal Open Market Committee of the Federal Reserve to raise its target interest rate range again in a further attempt to slow runaway inflation.

While lower gas prices provided good news for consumers, rising costs for food, clothing, and household goods added to financial pressures for many families. The Fed indicated that it would increase its target interest rate range as needed to ease rapidly rising prices.

The consumer price index rose by 8.30 percent year-over-year, which exceeded the expected reading of 8.00 percent, but fell short of July’s year-over-year reading of 8.50 percent growth. The year-over-year reading for core consumer prices showed 6.30 percent growth which exceeded expectations of 6.00 percent growth and July’s reading of 5.90 percent growth.

In related news, retail sales rose by 0.30 percent in August and exceeded expectations of 0.10 percent month-to-month growth but fell short of July’s reading of 0.40 percent growth in retail sales. August’s retail sales excluding autos were -0.30 percent lower than in July. Analysts expected 0.10 percent growth in sales based on a flat reading of 0.00 percent growth n July. Consumers assumed a wait-and-see position about spending and chose to hold on to their cash.

Mortgage Rates, Jobless Claims

Freddie Mac reported higher average mortgage rates as the average fixed rate for 30-year mortgages exceeded six percent for the first time since 2008. Rates for 30-year fixed-rate mortgages averaged 13 basis points higher than in the previous week at 6.02 percent; rates for 15-year fixed-rate mortgages averaged 5.21 percent and five basis points higher. Rates for 5/1 adjustable rate mortgages averaged 29 basis points higher at 4.93 percent. Discount points averaged 0.80 percent for 30-year fixed-rate mortgages and0.90 percent for 15-year fixed-rate mortgages. Discount points for 5/1 adjustable rate mortgages averaged 0.20 percent.

Fewer new jobless claims were filed last week with 213,000 first-time claims filed as compared to the previous week’s reading of 218,000 initial jobless claims filed. Analysts expected 225,000 new jobless claims to be filed. The University of Michigan’s Consumer sentiment rose to an index reading of 59.5 in September as compared to the expected reading of 60.0 and August’s reading of 58.2. Consumer sentiment readings over 50 indicate that most consumers feel positive about current economic conditions.

What’s Ahead

This week’s scheduled economic reports include readings on the U.S. housing market, sales of previously-owned homes, data on housing starts, and building permits. issued Weekly readings on mortgage rates and jobless claims will also be released.

What's Ahead For Mortgage Rates This Week - September 6, 2022Last week’s economic reporting included readings on home price growth, federal data on public and private sector job growth, the national unemployment rate, and data on consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released.

S&P Case Shiller: Home Price Growth Slows in June

The S&P Case-Shiller National Home Price Index reported slower home price growth in June as home price growth slowed to a year-over-year pace of 18.0 percent as compared to May’s reading of 19.9 percent. The 20-City Home Price Index posted 18.6  percent growth in June as compared to May’s reading of 20.50 percent year-over-year growth in May.

The top three cities in June’s 20-City Home Price Index were Tampa, Florida, which posted the fastest year-over-year home price growth rate for the fourth consecutive month with a reading of 35.00 percent,  and Miami. Florida with a year-over-year home price growth rate of 33.00 percent. Dallas, Texas completed the top three cities with year-over-year home price growth of 28.20 percent.

While all 20 cities reported double-digit percentages for year-over-year home price growth, 19 of 20 cities reported slower rates of home price appreciation in June. Craig J. Lazzara, Managing Director of S&P Dow Jones Indices, explained the difference between the deceleration of home price growth and home price decline. A deceleration in home price growth indicates that while home prices continue to increase, they’re doing so at a slower pace. A decline in home prices means that home prices are falling.

Analysts expect rising mortgage rates to negatively impact home sales as affordability issues increase. As demand for homes falls, home prices may also fall as the housing market cools.

Mortgage Rates Rise, Jobless Claims Fall

Freddie Mac reported higher average mortgage rates last week as rates for 30-year fixed-rate mortgages rose by 11 basis points to 5.66 percent. Rates for 15-year fixed-rate mortgages averaged 4.98 percent and 13 basis points higher. Rates for 5/1 adjustable rate mortgages averaged 4.51 percent and 15 basis points higher than in the previous week.

Initial jobless claims fell last week with 232,000 initial claims filed as compared to the previous week’s reading of 237,000 first-time claims filed. Analysts expected 245,000 new jobless claim filings last week. Job growth reports from ADP and the government’s Non-Farm Payrolls report showed sharp drops in job growth; ADP, which reports on private-sector payrolls, reported 132,000 jobs added in August as compared to July’s reading of 268,000 private-sector jobs added in July. The Non-Farm Payrolls report

The national unemployment report rose to 3.70 percent in August from July’s reading of 3.50 percent. Analysts expected a reading of 3.50 percent unemployment for August.

What’s Ahead

This week’s scheduled economic reporting is spare due to the Labor Day Holiday. Fed Chair Jerome Powell will give a speech and weekly readings on mortgage rates and jobless claims will be released.

 

What's Ahead For Mortgage Rates This Week - August 29, 2022

Last week’s economic news included readings on pending home sales, new home sales, and readings on monthly and yearly inflation rates. Weekly readings on mortgage rates and jobless claims were also published along with the University of Michigan’s final monthly and year-over-year readings on consumer sentiment.

Commerce Department Reports Fewer New Homes Sold in July

Sales of new homes fell by 12.60 percent month-to-month and were 29.6 percent lower year-over-year in July. The Commerce Department reported a year-over-year sales pace of 511,000 new homes sold in July as compared with June’s revised pace of 585,000 new homes sold. June’s reading was revised from its original year-over-year pace of 590,000 new home sales and was the lowest pace of home sales reported since January 2016.

Fears of rapidly rising inflation and mortgage rates impacted would-be homebuyers as construction costs and labor shortages contributed to rising home prices. Pending home sales decreased by one percent in July as compared to June’s reading of -8.9 percent fewer pending sales reported in June.

Mortgage Rates Mixed, Jobless Claims Fall

Freddie Mac reported higher average rates for fixed-rate mortgages as the average rate for 5/1 adjustable rate mortgages fell. Rates for 30-year fixed mortgage rates averaged 5.53 percent and 42 basis points higher. Rates for 15-year fixed-rate mortgages averaged 4.85 percent and were 0.30 basis points higher. The average rate for 5/1 adjustable rate mortgages was three basis points lower at 4.36 percent; discount points averaged 0.80 percent for fixed-rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.

Initial jobless claims fell to 243,000 first-time claims filed as compared to the previous week’s reading of 245,000 initial claims filed.

Inflation readings for July showed the first decrease since April 2020 as the month-to-month reading decreased by 0.10 percent as compared to June’s month-to-month reading of a one-percent increase in inflation. The core personal consumption rate, which does not include food or fuel costs, rose by 0.10 percent as compared to the expected reading of 0.20 percent and June’s reading of 0.60 percent inflation.

Inflation rose by 6.30 percent year-over-year in July as compared to June’s year-over-year reading of 6.80 percent. Core inflation rose by 4.60 percent year-over-year in July as compared to June’s reading of 4.80 percent. Decreasing inflationary growth suggests that relief may be on the way for consumers.

What’s Next

This week’s scheduled economic reporting includes readings on home prices, construction spending,  public and private-sector job growth, and the national unemployment rate. Weekly readings on mortgage rates and jobless claims will also be released.

 

What's Ahead For Mortgage Rates This Week - August 29, 2022

Last week’s economic news included readings on pending home sales, new home sales, and readings on monthly and yearly inflation rates. Weekly readings on mortgage rates and jobless claims were also published along with the University of Michigan’s final monthly and year-over-year readings on consumer sentiment.

Commerce Department Reports Fewer New Homes Sold in July

Sales of new homes fell by 12.60 percent month-to-month and were 29.6 percent lower year-over-year in July. The Commerce Department reported a year-over-year sales pace of 511,000 new homes sold in July as compared with June’s revised pace of 585,000 new homes sold. June’s reading was revised from its original year-over-year pace of 590,000 new home sales and was the lowest pace of home sales reported since January 2016.

Fears of rapidly rising inflation and mortgage rates impacted would-be homebuyers as construction costs and labor shortages contributed to rising home prices. Pending home sales decreased by one percent in July as compared to June’s reading of -8.9 percent fewer pending sales reported in June.

Mortgage Rates Mixed, Jobless Claims Fall

Freddie Mac reported higher average rates for fixed-rate mortgages as the average rate for 5/1 adjustable rate mortgages fell. Rates for 30-year fixed mortgage rates averaged 5.53 percent and 42 basis points higher. Rates for 15-year fixed-rate mortgages averaged 4.85 percent and were 0.30 basis points higher. The average rate for 5/1 adjustable rate mortgages was three basis points lower at 4.36 percent; discount points averaged 0.80 percent for fixed-rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.

Initial jobless claims fell to 243,000 first-time claims filed as compared to the previous week’s reading of 245,000 initial claims filed.

Inflation readings for July showed the first decrease since April 2020 as the month-to-month reading decreased by 0.10 percent as compared to June’s month-to-month reading of a one-percent increase in inflation. The core personal consumption rate, which does not include food or fuel costs, rose by 0.10 percent as compared to the expected reading of 0.20 percent and June’s reading of 0.60 percent inflation.

Inflation rose by 6.30 percent year-over-year in July as compared to June’s year-over-year reading of 6.80 percent. Core inflation rose by 4.60 percent year-over-year in July as compared to June’s reading of 4.80 percent. Decreasing inflationary growth suggests that relief may be on the way for consumers.

What’s Next

This week’s scheduled economic reporting includes readings on home prices, construction spending,  public and private-sector job growth, and the national unemployment rate. Weekly readings on mortgage rates and jobless claims will also be released.

 

Mortgage Rates August 22, 2022Last week’s economic reporting included readings on home builder confidence in housing market conditions, Commerce Department readings on building permits issued, and housing starts along with readings on retail sales. Weekly readings on mortgage rates and jobless claims were also published.

NAHB: Home Builder Confidence Falls for 8th Consecutive Month in August 

The National Association of Home Builders reported an index reading of 49 for home builder confidence in August. Analysts expected a reading of 54 and July’s index reading was 55. Readings over 50 indicate that a majority of home builders surveyed viewed current housing market conditions as positive. Builders surveyed cited ongoing concerns including rising materials and labor costs and a lack of buildable lots, but rapidly rising mortgage rates and the resulting higher costs of buying a home increased home builders’ concerns about the U.S. housing market.

Builders reported making buyer concessions including lowering home prices and adding buyer incentives. 20 percent of home builders surveyed said that they reduced home prices within the last month.

Component readings for home builders’ confidence were also lower. Sales expectations for the next six months fell two points; the index reading for prospective buyer traffic fell by 5 points to 32 points. Regional readings also showed lower readings for builder confidence. The Western region reported 11 points lower builder confidence in July; home builder confidence in the Northeastern region fell by nine points and home builder confidence was seven points lower in the South. Home builder confidence in the Midwestern region fell by three points.

Mortgage Rates, Initial Jobless Claims Fall

Freddie Mac reported lower average mortgage rates last week as fixed-rate mortgages averaged 5.13 percent and were nine basis points lower. Rates for 15-year fixed-rate mortgages averaged 4.55 percent and four basis points lower. Rates for 5/1 adjustable rate mortgages averaged four basis points lower at 4.39 percent. Discount points averaged 0.80 percent for 30-year fixed-rate mortgages and 0.70 percent for 15-year fixed-rate mortgages. Discount points for 5/1 adjustable rate mortgages averaged 0.30 percent.

Initial jobless claims fell to 250,000 initial claims filed as compared to 252,000 first-time jobless claims filed in the previous week. Analysts expected 260,000 initial jobless claims to be filed last week. Continuing jobless claims rose to 1.44 million claims from the previous week’s reading of 1.43 million ongoing jobless claims filed.

What’s Ahead

This week’s scheduled economic reporting includes readings on sales of new homes and pending home sales, inflation, and consumer sentiment. Weekly readings on mortgage rates and jobless claims will also be published.

What's Ahead For Mortgage Rates This Week - August 15, 2022Last week’s economic reporting included readings on inflation and consumer sentiment along with weekly readings on mortgage rates and jobless claims.

Inflation Rate Unchanged in July

According to the government’s Consumer Price Index, month-to-month inflation did not rise in July as compared to June’s reading of 1.30 percent growth. Analysts expected a reading of 0.20 percent inflationary growth. Inflation rose by 8.50 percent year-over-year against expectations of 8.70 percent year-over-year growth and June’s year-over-year inflationary growth of 9.10 percent. Core inflation, which excludes volatile food and fuel sectors, rose by 0.30 percent month-to-month in July. Analysts expected a core inflation rate of  0.50 percent month-to-month in July based on June’s reading of 0.70 percent growth. 

Core inflation rose by 5.90 percent year-over-year in July; analysts expected a reading of 6.10 percent based on June’s year-over-year reading of 5.90 percent.

Lower gas prices contributed to slower inflation, but analysts said there were no guarantees of ongoing reductions in fuel prices.

Mortgage Rates, Jobless Claims Rise

Freddie Mac reported higher average mortgage rates last week as the rate for 30-year fixed-rate mortgages rose by 23 basis points to 5.22 percent. The average rate for 15-year fixed-rate mortgages rose by 33 basis points to 4.59 percent and the average rate for 5/1 adjustable-rate mortgages rose by 18 basis points to 4.43 percent. Discount points averaged 0.70 percent for fixed-rate mortgages and 0.00 percent for 5/1 adjustable-rate mortgages.

Initial jobless claims rose to 262,000 new claims filed as compared to the expected reading of 264,000 first-time jobless claims filed. and the previous week’s reading of 248,000 initial claims filed. Continuing jobless claims also rose with 1.43 million ongoing jobless claims filed as compared to 1.42 million continuing jobless claims filed in the previous week.

The University of Michigan published its preliminary consumer sentiment index for August. Consumer sentiment rose to an index reading of 55.10 as compared to the expected reading of 52.50 and July’s index reading of 51.5. Index readings above 50 indicate that a majority of consumers surveyed had a positive view of current economic conditions.

What’s Ahead

This week’s scheduled economic releases include readings on home prices, sales of previously-owned homes, along with reports on building permits issued, housing starts, and data on retail sales. Weekly readings on mortgage rates and jobless claims will also be published. 

What's Ahead For Mortgage Rates This Week - August 8, 2022

Last week’s economic reports included readings on construction spending, government reports on jobs, and the national unemployment rate. Weekly reports on mortgage rates and jobless claims were also released.

Commerce Department Reports Construction Spending Rose in May

The U.S. Commerce Department initially reported less construction spending in May but revised its reading of $1.780 trillion to show that spending rose by 0.10 percent in May to a seasonally adjusted annual rate of $1.782 trillion. Analysts expected construction spending to rise by 0.40 percent month-to-month as compared to April’s reading of  0.10 percent growth. Construction spending grew by 8.30 percent year-over-year. Concerns over high inflation and affordability of homes presented ongoing concerns for home builders,

Mortgage Rates Fall, Jobless Claims Rise

Freddie Mac reported lower average mortgage rates last week as the rate for 30-year fixed-rate mortgages fell by 31 basis points to 4.99 percent. Rates for 15-year fixed-rate mortgages averaged 32 basis points lower at 4.26 percent. 5/1 adjustable rate mortgages averaged 0.04 basis points lower at 4.25 percent. Discount points averaged 0.80 percent for 30-year fixed-rate mortgages and 0.6 percent for 15-year fixed-rate mortgages. Rates for 5/1 adjustable rate mortgages averaged 4.25 percent and were four basis points lower with discount points averaging 0.30 percent.

Initial jobless claims rose to 260,000 new claims as compared to the previous week’s reading of 254,000 first-time claims filed. Continuing jobless claims also rose with 1.42 million claims filed; 1.37 million ongoing claims were filed in the previous week.

Non-Farm Payrolls rose by 528,000 jobs in July, which was more than twice the predicted reading of 258,000 jobs added and more jobs added than in June, when 398,000 jobs were added. The national unemployment rate fell to 3.50 percent in July from June’s reading of 3.60 percent. While job growth suggested increasing economic stability, uncertainty over inflation and consumer concerns about high prices for housing, gas, and food kept optimism in check.

What’s Ahead

This week’s scheduled economic reporting includes readings on inflation and the University of Michigan’s preliminary monthly report on consumer sentiment along with weekly readings on mortgage rates and jobless claims.  

What's Ahead For Mortgage Rates This Week - August 1, 2022Last week’s economic news included readings on home price growth, new and pending home sales, and inflation. Weekly reports on mortgage rates and jobless claims were also released.

S&P Case-Shiller: Home Price Growth Slows in May

Home prices rose at a slower pace in May according to the S&P Case-Shiller National Home Price Index. Year-over-year home prices rose by 19.70 percent in May as compared to April’s year-over-year reading of 20.60 percent in home price appreciation. Tampa, Florida led S&P Case-Shiller’s 20-City Home Price Index with 36.10 percent year-over-year home price growth. Miami, Florida followed with 34.00 percent home price appreciation. Dallas, Texas reported a 30.80 percent growth rate in home prices.

The Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, reported 1.40 percent growth in home prices month-to-month and 18.30 percent growth year-over-year for May. FHFA data covers purchase-only transactions associated with home loans owned or backed by Fannie Mae and Freddie Mac. Analysts said that slower growth in home prices signaled a cooling market after years of rapidly rising home prices.

The Commerce Department reported the lowest number of new home sales since the pandemic. New homes sold at a seasonally-adjusted annual pace of 590,000 sales in June as compared to May’s reading of 642,000 sales. Rising mortgage rates and high home prices eroded affordability for first-time and moderate-income home buyers.

Mortgage Rates and Jobless Claims Fall

Freddie Mac reported lower mortgage rates last week as rates for 30-year fixed-rate mortgages fell by 24 basis points to 5.30 percent; rates for 15-year fixed-rate mortgages averaged 4.58 percent and 17 basis points lower than for the previous week. Rates for 5/1 adjustable rate mortgages averaged 4.29 percent and were two basis points lower on average. Discount points averaged 0.80 percent for fixed-rate mortgages and 0.30 percent for 5/1 adjustable rate mortgages.

Fewer first-time jobless claims were filed last week with 256,000 claims filed as compared to the previous week’s reading of 261,000 initial claims filed. Analysts expected 249,000 first-time jobless claims to be filed last week.

The Federal Reserve moved to slow inflation by raising its target interest rate range from 1.50 percent to 1.75 percent to 2.25 to 2.50 percent. Interest rates are expected to rise for consumer loans, credit cards, and variable-rate education loans. The Commerce Department’s personal consumption price index rose by one percent in June, which was the fastest month-to-month growth rate in 40 years. Analysts expected inflation to increase by 0.90 percent.  

What’s Ahead

This week’s scheduled economic reporting includes readings on construction spending and job growth; weekly readings on mortgage rates and jobless claims will also be released. 

What's Ahead For Mortgage Rates This Week - July 25, 2022Last week’s economic news included readings from the National Association of Home Builders on home prices, Commerce Department readings on building permits issued, and housing starts.  The National Association of Realtors® reported on sales of previously-owned homes; weekly reports on mortgage rates and jobless claims were also released.

NAHB Housing Market Index Posts Lowest Reading Since May 2020

The housing market is cooling off according to July’s NAHB Housing Market Index, which declined to an index reading of 55 as compared to June’s reading of 67 and the expected reading of 66. July’s reading was the second lowest posted since the start of the index and was the seventh consecutive monthly decline in home prices.

Component readings for the Housing Market Index were also lower. Homebuilder confidence in sales conditions over the next six months lost 11 points for an index reading of 50 points. Homebuilders surveyed were less certain about expected buyer traffic in new housing developments as July’s reading decreased by 11 points to 37.

Regional results were also lower as builder confidence in the Northeastern region slipped by five points to an index reading of 57. Home builder confidence in the Midwestern regions fell by six points to 49. The Southern region’s reading was 15 points lower in July with an index reading of 60; home builder confidence in current market conditions in the Western region declined from June’s reading of 64 to 48 in July. Coastal metro areas that enjoyed rapidly rising home values saw declines in home values as affordability and demand for high-priced homes shrank amid economic uncertainty.

June Sales of Previously-Owned Homes Fall as Mortgage Rates Rise

Sales of previously-owned homes fell in June with 5.12 million sales completed on a seasonally-adjusted annual basis. Analysts expected a reading of 5.36 million sales; 5.41 million sales of previously-owned homes were reported in May. Rapidly rising mortgage rates and inflation sidelined prospective home buyers concerned about higher closing costs and rising day-to-day living expenses.

Freddie Mac reported higher fixed mortgage rates last week as rates for 30-year fixed-rate mortgages averaged 5.54 percent and three basis points higher. 15-year fixed-rate mortgages averaged 4.75 percent and were eight basis points higher. Rates for 5/1 adjustable-rate mortgages averaged  4.31 percent and four basis points lower than in the previous week. Discount points averaged 0.80 percent for fixed-rate mortgages and 0.30 percent for 5/1 adjustable-rate mortgages.

Initial jobless claims rose to 251,000 new claims filed as compared to the prior week’s reading of 244,000 new jobless claims filed and the expected reading of 240,000 first-time claims filed. 1.38 million ongoing jobless claims were filed last week as compared to the prior week’s reading of 1.33 million continuing claims filed.

What’s Ahead

This week’s scheduled economic news includes readings on new home sales inflation and consumer sentiment  Weekly readings on mortgage rates and jobless claims will also be published. 

What's Ahead For Mortgage Rates This Week - July 18, 2022Inflation dominated last week’s economic readings and predictions as it hit a year-over-year growth rate of  9.10 percent in July. Inflation reached its highest year-over-year growth rate since 1981. Gasoline prices eased somewhat, but not enough to provide relief against a backdrop of high housing and food prices. Low and moderate-income consumers were disproportionately impacted as rents rose beyond near-record inflation and home prices remained out of reach for many would-be home buyers.

Inflation Causing Hardship for Moderate-Income Consumers

Consumers faced with rapidly growing expenses turned to credit cards for purchasing food and household items; this trend suggests that as interest rates rise, more households could experience increasing financial stress as paying off consumer debt becomes more difficult.

The Consumer Price Index rose by 1.3 percent in June on a month-to-month basis; analysts expected a month-to-month reading of 1.1 percent inflationary growth based on May’s reading of 1.0 percent growth. The core Consumer Price Index, which excludes volatile food and fuel sectors, rose by 0.70 percent in June and exceeded analysts’ expected reading of 0.50 percent growth and May’s month-to-month reading of 0.60 percent growth.

Year-over-year inflation reached 9.10 percent in June and surpassed analysts’ expectations of 8.80 percent- year-over-year-inflationary growth and May’s year-over-year reading of 8.60 percent growth. Core inflation rose by 5.90 percent year-over-year in June and fell short of analysts’ forecasts of 5.7 percent year-over-year growth. May’s year-over-year reading for inflationary growth was 6.0 percent and could suggest that inflation has peaked.

Mortgage Rates Rise After Fed Raises Key Interest Rate Range

Although the Federal Reserve raised its key interest rate range in an attempt to slow inflation, mortgage rates also rose last week. Freddie Mac reported that rates for 30-year fixed-rate mortgages rose by 21 basis points to 5.51 percent on average. Rates for 15-year fixed-rate mortgages averaged 22 basis points higher at 4.67 percent. The average rate for 5/1 adjustable rate mortgages was 16 basis points higher at 4.35 percent; discount points averaged 0.80 percent for fixed-rate mortgages and 0.20 percent for 5/1 adjustable rate mortgages.

New jobless claims rose last week with 244,000 first-time claims filed as compared to the previous week’s reading of 235,000 initial jobless claims filed. Fewer ongoing jobless claims were filed last week with 1.33 million continuing claims filed as compared to the prior week’s reading of 1.37 million ongoing jobless claims filed.

Consumer concerns over inflation eased in July with a preliminary reading of 51.1 reported in the University of Michigan’s preliminary consumer confidence index. Any reading over 50 indicates that most consumers surveyed were confident about current economic conditions.

What’s Ahead

This week’s scheduled economic reporting includes readings on home prices, building permits issued, and housing starts. Data on sales of previously-owned homes will be released along with weekly readings on mortgage rates and jobless claims.