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New-home sales roar to a 7-month high 592,000 annual rate in February

  • March 23, 2017
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  • realestate

Sales of newly-constructed homes powered to the highest pace in seven months in February as firm demand for housing outweighs lean supply and slightly higher mortgage rates. New home sales ran at a seasonally-adjusted annual rate of 592,000, the Commerce Department said Thursday. That was 6.1% higher than in January and 12.8% above last February’s

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Existing-home sales tumble as tight inventory chokes housing

  • March 22, 2017
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  • realestate

Sales in February were still 5.4% higher compared with a year ago, but the supply situation has worsened. Inventory was 6.4% lower than in February 2016. Meanwhile, the median home price rose 7.7% compared with a year ago to $228,400.

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Treasury yields touch 3-week low as market uncertainty surrounds key health-care vote

  • March 22, 2017
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  • realestate

Treasury yields declined on Wednesday to their lowest levels in more than three weeks as congressional Republicans struggled to convince certain conservative legislators to support their plan to repeal and replace Obamacare. Yields, which fall as prices rise, were on track to fall for a fourth straight session, with the yield on the 10-year Treasury

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BOE rate hike in May? Soaring U.K. inflation will bring out the hawks, analysts say

  • March 21, 2017
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  • realestate

It has happened — for the first time in more than three years, U.K. inflation has broken above the Bank of England’s 2% target, adding pressure on the central bank to raise interest rates to curb the rapid jump in consumer prices. At 2.3% for February, the consumer price index rose faster than the 2.1%

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BOE rate hike in May? Soaring U.K. inflation will bring out the hawks, analysts say

  • March 21, 2017
  • no comment
  • realestate

It has happened — for the first time in more than three years, U.K. inflation has broken above the Bank of England’s 2% target, adding pressure on the central bank to raise interest rates to curb the rapid jump in consumer prices. At 2.3% for February, the consumer price index rose faster than the 2.1%

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Fed’s Evans: Open to four interest-rate hikes this year if inflation flares

  • March 20, 2017
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  • realestate

If expected U.S. economic improvement persists, the Federal Reserve is likely to raise interest rates a total of three times in 2017, said Chicago Fed President Charles Evans, but that loose target could go up to four rate hikes this year should inflation creep higher than the 2%, or even just over 2%, that the

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Industrial output flat in February, held down by utility production

  • March 17, 2017
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  • realestate

Manufacturing output gained 0.5% in February, the sixth straight monthly increase. Economist had expected a 0.3% rise in output in February. This followed a revised 0.1% decline in January, a bit faster than the original reading of a 0.3% decline. Industrial output has been in an up-and-down pattern since last fall. Compared with the same

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Fed’s Kashkari saw no need to raise interest rates this week as inflation remains tame

  • March 17, 2017
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  • realestate

Minneapolis Fed President Neel Kashkari on Friday said he dissented from the U.S. central bank’s decision to hike interest rates earlier this week because not all that much had changed in the outlook for inflation since the January meeting. While there were some signs that inflation was picking up, it was not happening rapidly, Kashkari

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Consumer sentiment still running high -except among Democrats

  • March 17, 2017
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  • realestate

Most Americans are quite optimistic the U.S. economy will do well in the days ahead, though Democrats remain depressed two months into the Trump presidency. The index of consumer sentiment rose to 97.6 in March from 96.3 in February, based on a preliminary reading by the University Michigan. Economists surveyed by MarketWatch had forecast a

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Leading indicators reach highest level in a decade

  • March 17, 2017
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  • realestate

The U.S. economy is set to accelerate, if a gauge that historically correlates with future performance is on target. The Conference Board said its leading economic index rose 0.6% in February — the third straight gain of that magnitude — to reach its highest level in more than a decade. “Widespread gains across a majority

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