Sales of existing homes reached their highest volume in almost six years in August. The National Association of REALTORS reported Thursday that sales of existing homes rose 1.70 percent in August to a seasonally-adjusted annual rate of 5.48 million existing homes...
Last week's economic news was dominated by the Federal Reserve's decision not to taper its $85 billion in monthly securities purchases. Fed Chairman Ben Bernanke noted in a scheduled statement after the Federal Open Market Committee meeting that economic conditions...
Home builder confidence was unchanged for September according to the National Association of Home Builders/Wells Fargo Housing Market Index HMI released Tuesday. After four months of rising confidence, September's HMI reading came in at 58, which was not far from...
Last week didn't feature any housing-related news other than Freddie Mac's weekly survey of mortgage interest rates. Reports on consumer credit, job openings and weekly jobless claims suggest that without some relief in the jobs market, Americans may be taking a...
Last week was relatively calm due to the Labor Day Holiday on Monday providing little mortgage and housing related news. However, there were several positive indicators for overall economic conditions. Construction spending rose by 0.60 percent in July and surpassed...
The National Association of REALTORS reported Wednesday that pending sales of existing homes fell by 1.30 percent in July. According to the organization's Pending Home Sales Index, this was the second straight month that pending home sales dropped. July's Pending Home...
Home prices are still rising, but at a slower pace according to the S&P Case-Shiller Home Price Indices for June. Home prices for the cities surveyed in the HPI rose by 12.10 percent on an annual basis as compared to May's reading of 12.20 percent. This is...
Last week brought mixed economic news, but Leading Indicators released Thursday suggest that the U.S. economy is growing at a moderate rate. Mortgage rates for fixed rate loans were higher, but the average rate for a 5/1 adjustable rate mortgage was unchanged from the...
The National Association of Home Builders (NAHB) reported Thursday that its Housing Market Index rose three points to a reading of 59 for August. Confidence among builders is likely growing in connection with stronger housing markets and high demand for homes. These...
Last week wasn't kind to stock market investors, but weekly jobless claims fell to an unexpected low of 320,000 new jobless claims filed, the lowest level in nearly six years. Here is a review of the major events of the week. Monday: The federal budget for July shows...
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