Eye On Housing
Consumer confidence dropped again in June as inflation stayed at decades high and continued to temper consumers’ economic outlook, which tumbled to the lowest level in nearly a decade. Though spending intentions for homes, cars, and major appliances held relatively steady, consumer spending will continue to face headwinds from further inflation and rate hikes. The Consumer Confidence Index, reported by… Read More ›
Since the start of 2021, the MBA’s tracked 30-year fixed rate mortgage rate has increased 40 basis points and currently stands at 3.28%. The week that showing the largest gains over the last month was the week ending February 26, increasing by 15 basis points. The previous week (i.e., the week ending February 19) saw an increase of 10 basis… Read More ›
After rebounding from the effects of the partial government shutdown in February, consumer confidence unexpectedly dropped in March. This is the fourth time decline in the past five months. The Consumer Confidence Index, reported by the Conference Board, fell by 5.6% from 131.4 to 124.1 in March, driven mainly by the sharp decline in the Present Situation Index, which fell… Read More ›
With the release of the final estimates of third quarter 2016 GDP growth (revised up three-tenths to a 3.5% growth rate), housing’s share of gross domestic product (GDP) fell 0.1 percentage point to 15.6%. The home building and remodeling component—residential fixed investment—as a share of GDP held steady at 3.5%. Housing-related activities contribute to GDP in two basic ways. The… Read More ›
With the release of the final estimates of first quarter 2016 GDP growth (revised up two-tenths to a 1.1% growth rate), housing’s share of gross domestic product (GDP) ticked up slightly to 15.4%. The home building and remodeling component – residential fixed investment – as a share of GDP expanded to 3.4%. Housing-related activities contribute to GDP in two basic… Read More ›
Today, the Bureau of Economic Analysis (BEA) released its “advance” estimate of real GDP growth for the third quarter of 2015. According to the release, in the third quarter real GDP grew at a seasonally adjusted annual rate of 1.5 percent, down from 3.9 percent in the second quarter. Monthly data that had been trickling in, especially data on inventories, made… Read More ›
An almost audible sigh of relief is conveyed in the statement that followed the July meeting of the Federal Open Market Committee (FOMC) as the committee upgraded its assessment of the economy and the Bureau of Economic Analysis (BEA) released estimates of economic activity for the April to June quarter, including 4.0% growth in GDP. The BEA reported that real… Read More ›
The Bureau of Economic Analysis (BEA) released the third (and final) estimate of real GDP growth for the third quarter of 2012. Growth was revised to a seasonally adjusted annual rate of 3.1%, up from 2.7% in the second estimate (last month) and 2.0% in the advance estimate (October), a marked improvement from the second quarter pace of 1.3%. The… Read More ›