Browsing: Economy

Economy

New orders for manufactured durable goods increased 1.8% in January to $230.4 billion, following a 0.8% December decrease, according to the U.S. Census Bureau. New orders excluding defense rose 1.5% on the month, as orders of nondefense capital goods increased 3.6% to $69.0 billion. Shipments of manufactured durable goods decreased 0.1% to $238.3 billion. Inventories

Economy

New single-family home sales rose to a seasonally adjusted annual rate of 555,000 in January, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The January level was 3.7% above the revised December rate of 535,000 and 5.5% above the January 2016 level. Sales rose in most regions, increasing 15.8%

Economy

Consumer Sentiment declined 2.2 points in February to 96.3, according to the University of Michigan Consumer Sentiment Index. The Current Economic Conditions Index rose 0.2 points to 111.5, while the Consumer Expectations Index fell 3.8 points to 86.5. “While consumer confidence edged upward in late February, it remained slightly below the decade peak recorded in

Economy

Fed officials expressed that they could raise interest rates “fairly soon” as an improving economy and the possibility of faster than anticipated inflation could put the economy at risk of overheating, according to the minutes of the meeting released today. “Many participants expressed the view that it might be appropriate to raise the federal funds

Economy

The Federal Reserve today made an annual inflation adjustment to the asset threshold in Regulation I that determines the dividend rate that certain member banks earn on Federal Reserve Bank stock, as required by the 2015 transportation spending bill. The threshold for 2017 is now set at $10.122 billion in assets.

Economy

Existing-home sales rose 3.3% to a seasonally adjusted annual rate of 5.69 million in January, according to the National Association of Realtors (NAR). The fast start to 2017 saw existing-home sales reach their strongest level since February 2007 (5.79 million). “Much of the country saw robust sales activity last month as strong hiring and improved

Economy

Outstanding household debt increased by a robust 1.8 percent in the final quarter of 2016, rising by $226 billion to $12.58 trillion, the Federal Reserve Bank of New York said today.

Economy

Housing starts fell to a seasonally adjusted annual rate of 1.246 million in January, 2.6% below the revised December rate of 1.279 million, but 10.5% above the January 2016 rate. Housing activity increased in two out of the four regions. The Northeast and the South saw housing starts jump 55.4% and 20.0%, respectively. The West

Economy

More than 750,000 borrowers refinanced their Fannie Mae or Freddie Mac mortgage loans in the fourth quarter, with 13,220 refinanced through the Home Affordable Refinance Program, the Federal Housing Finance Agency said yesterday. HARP refinances dropped by 2,000 since the prior quarter. Seven percent of third-quarter loans refinanced through HARP had a loan-to-value ratio greater

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