After three months of increases, existing home sales retreated in January from the 10-month high last month, according to the National Association of Realtors (NAR). Sales continued to be suppressed by higher mortgage rates, which remained above 6.5% despite the Fed cutting rates by 100 basis points last year. The persistent high mortgage rates largely…
Inflation edged up to a six-month high in January and showed little progress from a year ago. The persistent inflation rate indicates the last mile to the Fed’s 2% target continues to be challenging and is consistent with the Fed’s cautious stance amid solid economic growth and growing uncertainty. While core inflation remained stubborn due…
Despite higher mortgage rates and elevated home prices, existing home sales jumped to a 10-month high in December, marking three monthly gains in annual growth, according to the National Association of Realtors (NAR). However, existing home sales end 2024 at 4.06 million, the lowest level since 1995 as the median price reached a record high…
Inflation edged up to a five-month high in December as energy prices surged, accounting for more than 40% of the monthly headline increase. Inflation ended 2024 at a 2.9% rate, down from 3.4% a year ago, although the last mile to the Fed’s 2% target continues to be challenging. While core inflation remained stubborn due…
Consumer confidence fell to a three-month low in December amid growing concerns about economic uncertainties, especially potential tariffs. These policy changes could derail inflation progress and lead the Fed to slow its easing pace. The Consumer Confidence Index, reported by the Conference Board, is a survey measuring how optimistic or pessimistic consumers feel about their…
Despite higher mortgage rates and elevated home prices, existing home sales jumped to an 8-month high in November, marking the second month of annual increase in more than three years, according to the National Association of Realtors (NAR). While inventory improves and the Fed continues lowering rates, the market faces headwinds as mortgage rates are…
Inflation picked up to 2.7% in November, while matching expectations, the last mile to the Fed’s 2% target proves to be the most challenging. Shelter costs continued to be the main driver of inflation, contributing nearly 40% of the monthly increase. However, the year-over-year change in the shelter index remained below 5% for a third…
