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March Chicago PMI strong

  • March 31, 2017
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  • realestate

March Chicago PMI 57.7 vs. estimates of 56.5. This is a red-hot reading and generally negative for pricing, but today we re moving better for interest rates leading into the weekend.

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Housing affordability drops to 8-year low

  • March 31, 2017
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Housing affordability continues to slip lower, hitting levels not seen since 2008 and 2009. More housing markets are slipping below historical levels and homeownership is becoming out of reach for many as average incomes can’t keep up with growing home prices.

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U.S. stock futures dip as focus on Fed and data continues

  • March 30, 2017
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Federal Reserve officials, including Chicago Fed President Charles Evans and his Boston counterpart, Eric Rosengren are scheduled to speak at separate events and may comment on the central bank’s interest rate outlook. Wall Street stock futures pointed to a slightly lower open on Thursday as investors continued to be on watch for more signals on

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Jobless claims dip 3,000 to 258,000 in late March

  • March 30, 2017
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The number of Americans who applied for unemployment benefits in late March dropped by 3,000 to 258,000, keeping new claims near the lowest level in decades. Economists polled had expected initial jobless claims to total 247,000 in the seven days stretching from March 19 to March 25.

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Fed’s Evans says he supports ‘one or two’ more interest-rate hikes this year

  • March 29, 2017
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  • realestate

The fundamentals of the U.S. economy are good and call for another one or two increases in short-term interest rates this year, said Chicago Fed President Charles Evans on Wednesday. Over the next few years, economic growth should average a little above potential, which is not even as high as 2%, Evans said in a

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Pending home sales jump in February

  • March 29, 2017
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  • realestate

Contract signings for home sales boomed in February to the second-highest level in a decade, a trade group said Wednesday. Pending home sales rose 5.5% in February after falling 2.8% in January, the National Association of Realtors reported. That’s the highest level in close to a year

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Treasurys pare losses after U.K. formally begins Brexit process

  • March 29, 2017
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Treasury prices gained some ground on Wednesday after U.K. Prime Minister Theresa May began the Article 50 process, which formally begins the process of taking the country out of the European Union. The yield on the 10-year Treasury note slipped 2.6 basis points to 2.398%. The yield on the 30-year Treasury bond fell 2.3 basis

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Home prices hit a 31-month high in January, Case-Shiller says

  • March 28, 2017
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  • realestate

U.S. house prices roared to their highest in nearly three years as demand remains hot, especially in the west. The S&P/Case-Shiller 20-city index rose 5.7% in the three-month period ending in January compared to the same period a year ago, an acceleration from its 5.5% yearly increase in December. The 20-city index was up 0.2%

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Consumer confidence soars in March to best reading in 16 years

  • March 28, 2017
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  • realestate

The Conference Board said its consumer confidence index leapt to 125.6 in March from 116.1 in February, coming in well ahead of the consensus of 114.1.

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Republicans to launch effort to reform Fed

  • March 25, 2017
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  • realestate

A renewed effort by Republicans to reform the Federal Reserve will kick off next week. House Republicans have been pressing to reform the Fed since taking control of the chamber in 2010 but have yet to succeed in the face of opposition from Democrats and the Obama White House. This time might be different now

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