Last week’s economic reporting included Fed chair Jerome Powell’s testimony to the House of Representatives, data on job growth, and weekly readings on mortgage rates and jobless claims. Fed: Chairman Powell says no decision on March rate hike Federal Reserve Chair Jerome Powell said that no decision has been made about raising the Fed’s target interest rate range in March. Mr. Powell said, “We have not made any decision about the March meeting. We’re not going to … [Read more...]

Last week’s economic reporting included readings from S&P Case-Shiller home price indices, data on pending home sales, and weekly readings on mortgage rates and jobless claims. S&P Case-Shiller: December Home Price Growth Slows in 20-City Index Home price growth slowed in December according to S&P Case-Shiller’s 20-City Home Price Index. Home prices rose by 4.60 percent year-over-year as compared to November’s year-over-year home price growth rate of 6.80 percent. … [Read more...]

Last week’s economic reporting included readings on sales of previously-owned homes, the minutes of the Federal Reserve’s most recent Federal Open Market Committee meeting, and weekly readings on average mortgage rates and jobless claims. Federal Reserve leaders raise key interest rate range The Federal Open Market Committee of the Federal Reserve raised the Fed’s key interest rate range by 25 basis points to 4.50 to 4.75 percent. Fed officials cautioned that failure to ease … [Read more...]