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U.S. jobless claims climb 10,000 to 244,000

  • July 27, 2017
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  • realestatelife

The number of Americans who applied for unemployment benefits rose in late July but remained near the lowest level in decades, mirroring a red-hot labor market that shows little sign of cooling. The average of new claims over the past month, which gives a more stable picture of layoff trends, was unchanged at 244,000.

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Fed says it will start reducing the balance sheet ‘relatively soon’

  • July 26, 2017
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  • realestatelife

The Federal Reserve took a step toward reducing its $4.5 trillion balance sheet, as the Federal Open Market Committee statement said its previously announced drawdown program would begin “relatively soon” instead of simply “this year.” In a unanimous decision, the Fed as expected held its targeted federal funds rate range between 1% and 1.25%. The

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New-home sales tread water, miss Wall Street estimates

  • July 26, 2017
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  • realestatelife

Sales of newly-constructed homes remained steady in June even as the market remains starved for inventory. New-home sales were at a seasonally adjusted annual rate of 610,000, the Commerce Department said Wednesday. That was 0.8% above May’s 605,000 rate, after a slight downward revision. June’s tally was 9.1% higher than a year ago.

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Treasury yields extend rise ahead of Fed meeting

  • July 25, 2017
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  • realestatelife

Treasury yields across the curve continued to rise on Tuesday following two straight weeks of declines as traders sold government paper ahead of the Federal Reserve’s policy meeting on Wednesday, which could set the market up for the looming normalization of the central bank’s balance sheet. The 10-year benchmark yield added 3.6 basis points to

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Major metro area home prices up 5.7% year-over-year

  • July 25, 2017
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  • realestatelife

The S&P CoreLogic Case-Shiller home price index maintained a 5.6 percent annual gain in May, even as a key composite declined. The index which covers home prices in 20 cities across the U.S. was up 5.7 percent in May, a decline from April and 0.1 percent below expectation.

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U.S. economy poised for faster growth? Leading indicators say yes

  • July 20, 2017
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  • realestatelife

A broad measure of how well the U.S. economy is performing surged in June after a strong gain in May, suggesting growth could speed up in the months ahead. The leading economic index jumped 0.6% last month after a revised 0.4% increase in May

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Layoffs hover near 44-year low as firms scramble to find workers

  • July 20, 2017
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  • realestatelife

The number of Americans who applied for unemployment benefits sank in mid-July and hovered near a 44-year low, reflecting the healthiest jobs market in more than a decade. Initial jobless claims in the period running from July 9 to July 15 fell by 15,000 to a seasonally adjusted 233,000. That matches the second-lowest level since

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Philly Fed manufacturing report shows slowing growth in July

  • July 20, 2017
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  • realestatelife

Manufacturers reported solid, but slowing, growth in July. The Philadelphia Federal Reserve said its manufacturing survey in July fell to 19.5 from 27.6 in June.

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Housing starts jump as construction, home buying get back on track

  • July 19, 2017
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  • realestatelife

Housing starts were at a 1.22 million seasonally adjusted annual rate, the Commerce Department said Wednesday, 8.3% higher than in May and 2.1% higher for the year. The MarketWatch consensus of economists was for a 1.16 million annual pace.

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U.S. import prices decline in June for third time in four months

  • July 18, 2017
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  • realestatelife

Falling import prices show that barely any inflation is coming into the U.S. from abroad. The price of imported goods fell in June for the third time in four months, the latest signal that inflation in the U.S. has waned after a rapid buildup last year. The import price index dropped 0.2% last month, largely

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