The economic recovery gained steam through the 1st quarter, as a rush of consumer spending helped push annual GDP growth to an estimated 6.4%. |
The Fed left policy rates unchanged at this week's meeting and reiterated plans to maintain the current pace of bond buying, which will help keep mortgage rates low. |
Jobless claims fell last week to a fresh pandemic-era low as more people got vaccinated and returned to work, signaling the job market is steadily returning to pre-pandemic strength. |
New home sales rebounded in March, surging 20.7% to the highest level since 2006. The median price of a new home sold in March was $330,800, up slightly from a year ago. |
Pending home sales rose less than the expected 5% in March, up just 1.9% from February. Growth was likely tempered by lean inventory. |
Due to volatile rising lumber costs, builders have started protecting themselves from ongoing price increases by adding escalation clauses to home buyer contracts. |