House approves tax overhaul, sending bill to President Trump’s desk

  • December 20, 2017
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  • realestate

The House gave final approval Wednesday to the Republican tax reform package, sending the legislation to President Trump’s desk. It is the biggest rewrite of the tax code since the Reagan administration.

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Existing-home sales roar to the highest since 2006

  • December 20, 2017
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  • realestate

Existing-home sales were at a 5.81 million seasonally adjusted annual rate in November, the National Association of Realtors said Wednesday. Sales of previously-owned homes surged 5.6% to an annual 5.81 million pace in November, the third month of increases and the strongest since December 2006. Sales were 3.8% higher compared to a year ago in

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U.S. current account deficit falls to three-year low

  • December 19, 2017
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  • realestate

The U.S. current-account deficit, a measures of the nation’s debt to other countries, sank 19% in the third quarter to the lowest level in three years. The deficit declined to $100.6 billion from $124.4 billion. The U.S. recorded a small deficit in secondary income and goods and a bigger surplus in primary income and services.

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Home-builder confidence roars to an 18-year high

  • December 18, 2017
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  • realestate

The National Association of Home Builders’ monthly sentiment index surged five points to 74 in December, its highest reading since 1999. Economists had forecast a flat reading at the 70 level. November’s reading was revised down a tick, while builder sentiment turned far more bullish than expected this month. In November, the subindex of current

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Treasury yields tick higher on building optimism for tax bill

  • December 18, 2017
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  • realestate

Treasury prices fell, pushing yields higher, on Monday on mounting expectations that Congress will pass tax-cut legislation this week. The 10-year Treasury note yield rose to 2.371%, up from 2.353% on late Friday. The 2-year note yield edged higher to 1.848%, from 1.840%. The 30-year bond yield rose to 2.702%, versus 2.685%. Bond prices move

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Empire State index slips for third month in December

  • December 15, 2017
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  • realestate

The Empire State manufacturing index fell slightly in December, to a reading of 18 from 19.6 in November, the New York Fed said Friday. Any reading above zero indicates improving conditions, though it’s the third drop in a row.

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Jobless claims fall 11,000 to ultra-low 225,000

  • December 14, 2017
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  • realestate

Initial U.S. jobless claims, a tool to measure layoffs, fell by 11,000 to 225,000 in the seven days ended Dec 9. That’s just a few shades above the postrecession low. Economists surveyed had forecast claims to total 235,000. The more stable monthly average of claims slipped by 6,750 to 234,750, the government said Thursday The

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U.S. import prices leap 0.7% in November on higher fuel costs

  • December 14, 2017
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  • realestate

The U.S. import price index jumped 0.7% in November, once again spurred by rising oil prices. Excluding fuel, import prices were unchanged, the government said Thursday. The increase in import prices over the past 12 months rose to 3.1% from 2.3%. If fuel is omitted, the increase in import prices over the past year was

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US retail sales rose 0.8% in Nov, vs 0.3% increase expected

  • December 14, 2017
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  • realestate

U.S. retail sales increased more than expected in November. The holiday shopping season got off to a brisk start, pointing to sustained strength in the economy. The Commerce Department said on Thursday that retail sales rose 0.8 percent last month.

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Fed lifts U.S. interest rates, still expects 3 hikes in 2018

  • December 13, 2017
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  • realestate

The Federal Reserve on Wednesday raised a key short-term U.S. interest rate to a range of 1.25% to 1.5%, but in a sign of caution the central bank stuck to its earlier forecast for just three 1/4-point rate hikes in 2018. The Fed made no change to its inflation forecast, reflecting the persistent worry among

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