The Labor Department reported on Thursday that Weekly Initial Jobless Claims fell by 32,000 in the latest week to 300,000, the lowest level in nearly seven years, signaling that the job market may be coming out of hibernation as spring blooms.
In This Issue Last Week in Review: The Jobs Report for March was released, along with important housing news. Forecast for the Week: Look for the minutes from March’s Federal Open Market Committee meeting, plus news on wholesale inflation and consumer sentiment. Last Week in Review Not too hot. Not too cold. Just right. While Read More
The Labor Department reported on Friday that there were 192,000 jobs created in March, which was just below the 195,000 expected as hiring rebounds from the low numbers seen in December, January and early February due to the harsh winter weather. Job creations in January and February were revised higher by 37,000. The report was Read More
Home prices continue to increase by double digit percentages on a year-over-year basis CoreLogic said today. The company’s Home Price Index (HPI) for February, an index that includes distressed sales, was up 12.2 percent compared to February 2013. Thus February becomes the 24th consecutive month in which there have been annual price increases. Home prices Read More
CoreLogic Chief Economist Mark Fleming suggests that an examination of housing’s one-percenters might be as valuable an analysis as a glance at that segment’s income and/or wealth distribution. Historically, at least for the last two decades, homes that have sold for over $1 million have made up 1 percent of sales, a useful proxy. The Read More
In This Issue Last Week in Review: The labor market showed signs of improvement while the harsh winter continued to impact housing. Forecast for the Week: The Jobs Report for March will be important to dissect, plus several key manufacturing reports will be released. Last Week in Review “The world is but a perpetual see-saw.” Read More
There are six primary economic, regulatory, political and environmental factors that influence mortgage rate movements. Our easy-to-understand infographic is great for understanding this.
In This Issue Last Week in Review: The harsh winter weather throughout much of the country had a big impact on the housing market. Plus, the Fed met. Forecast for the Week: Housing reports will be front and center, along with key news on inflation, economic growth, and consumer attitudes. Last Week in Review Time Read More
The National Association of Realtors (NAR) reported on Thursday that February Existing Home Sales fell by 0.4% from January to 4.60 million units on an annualized basis. The 4.60 million was inline with estimates and was 7.1% below the 4.95 million units registered in February of 2013. The NAR cited the unusually harsh winter weather, Read More
The Commerce Department reported this morning that Housing Starts in February rose to an annual rate of 907,000, down from the 909,000 recorded in January and was the third straight month of declines. Harsh winter weather continued to weigh on the sector last month, especially in the early part of February.