Last week's economic news included releases on new and existing home sales along with weekly readings on mortgage rates and first-time jobless claims. Home Sales Fall Due to Slim Supply of Homes December sales of previously-owned homes dipped to an 18-year low with a reading of 5.57 million sales on a seasonally-adjusted annual basis. Pre-owned home sales were expected to reach 5.73 million homes based on November's downwardly- revised reading of 5.78 million sales. December sales were 3.6 … [Read more...]

Last week's economic news included readings on home builder confidence, housing starts and building permits issued. Weekly readings on mortgage rates and new jobless claims were also released; the week wrapped with the University of Michigan's report on consumer sentiment. Home Builder Confidence Dips, Remains in Positive Territory According to the National Association of Home Builders, builder confidence dropped two points in January to 72, but high demand for homes continued to provide … [Read more...]

Last week's economic releases on inflation, core inflation, and retail sales. Weekly readings on mortgage rates and new jobless claims were also released. Inflation and Retail Sales Ease in December Consumer prices fell from November's reading of 0.40 percent growth to o.10 percent growth in December, which matched expectations. The Core Consumer Price Index, which excludes volatile food and energy prices, dropped to 0.30 percent from November's growth rate of 0.40 percent. Analysts expected a … [Read more...]

Last week's economic reports included readings on construction spending, minutes of the most recent meeting of the Fed's Federal Open Market Committee. Labor reports including ADP, Non-Farm Payrolls, and national unemployment were released along with weekly readings on mortgage rates and new jobless claims. Construction Spending Rises; Driven by Residential Building Residential construction drove November construction spending surpassed expectations of a 0.50 percent increase; Overall, … [Read more...]