Becoming a homeowner for the first time is exciting. However, for many potential buyers, the process can also be confusing. Below is an overview of the steps you need to complete in order to buy your first home.
Last week’s economic reports included readings on inflation, retail sales, and a speech by Federal Reserve Chair Jerome Powell. Weekly readings on mortgage rates and jobless claims were also released.
Last week’s economic news included readings on sales of new and previously-owned homes and consumer sentiment. Weekly average mortgage rates were also released, but readings for jobless claims were not released due to the Christmas holiday.
Last week’s economic news included readings on housing market conditions, housing starts, building permits issued, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released.
Last week’s economic reporting included readings on sales of new and previously owned homes. State and federal data on new and continuing jobless claims were released along with Freddie Mac’s weekly report on mortgage rates.
Sales of New and Existing Homes Rise in June
Sales of new homes rose at their highest rate in 13 years according to the Commerce Department. New homes sold at a seasonally-adjusted annual pace of 776,000 sales, which exceeded the expected reading of 710.000 new single-family homes sold and May’s reading of 682,000 new homes sold. Analysts said that increased interest in relocating to suburban areas and low mortgage rates fueled buyer interest in new homes.