01
May
By Lori Blank
Uncategorized

FOMC Noted Retail Sales In March Reached Highest Level Since September Of 2012

The FOMC of the Federal Reserve released its customary statement after its meeting concluded April 30. FOMC members said that the economy is improving after a winter lull caused by poor weather. The national unemployment rate remains high, although some improvement in labor markets was reported. Fiscal policy is restraining economic growth, although FOMC said that the restraint is diminishing. FOMC Monitors Inflation, Further Reduces Asset Purchases The FOMC statement reflected members' concerns about the inflation rate remaining below its goal of two percent, and said that this could eventually impact economic recovery. The Fed expects inflation to approach its…
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07
Apr
By Lori Blank
Uncategorized

What’s Ahead For Mortgage Rates This Week – April 7, 2014

Last week's economic news included readings on February construction spending and multiple reports on employment data. Private sector employment was higher in March, but The Bureau of Labor Statistics reported that Non-Farm Payrolls for March fell short of expectations. According to Freddie Mac, mortgage rates ticked upward. Employment And Unemployment News ADP's payrolls report for March was higher than February's reading, with 191,000 new private sector jobs added. In February, 178,000 jobs were added. February's reading originally showed 138, 000 new jobs added. While analysts were confident that private-sector employment was showing signs of stability, the U.S. Bureau of Labor…
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27
Mar
By Lori Blank
Uncategorized

S & P Case-Shiller Shows Home Prices Down For Third Consecutive Month

Harsh winter weather conditions contributed to home prices falling in January. The S&P Case-Shiller 20-City composite index reported that home prices dropped by 0.10 percent in January, but after seasonal adjustments, home prices increased by 0.80 percent in January as compared to December. 12 of 20 cities posted declines in home prices in January. There's no cause for alarm, as year-over-year home prices increased by 13.20 percent as compared to year-over –year readings of 13.40 percent in December and 13.70 percent in November. David Blitzer, chair of the S&P Dow Jones index committee, said "The housing market is showing signs…
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20
Mar
By Lori Blank
Uncategorized

NAHB Housing Market Index Ticks Upward

Spring is almost here, and the National Association of Home Builders Housing Market Index (NAHB HMI) thawed slightly in March. The current reading of 47 is one point higher than for February, but still indicates pessimism among a majority of builders surveyed. Analysts expected a March reading of 50. The gauge of builder confidence stayed near its lowest level since May. March's NAHB HMI reading remained below the benchmark reading of 50, which indicates that an equal number of builders are positive about housing market conditions as those who are negative. A reading over 50 indicates that more builders are…
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