Eye On Housing
The pace of growth in the nation’s economy over the second quarter of 2017 was stronger than originally believed. According to the Bureau of Economic Analysis within the U.S. Department of Commerce, real gross domestic product (GDP) is now estimated to have increased by a seasonally adjusted annual rate of 3.0 percent in the second quarter. The original or “advance”… Read More ›
Lending standards on business loans to large and medium-sized firms eased on net over the second quarter of 2017 according to the Federal Reserve Board’s Senior Loan Officer Opinion Survey. Historical evidence has shown that lending standards on business loans to these establishments is correlated with both the growth in the stock of business loans held by banks and with… Read More ›
Information provided by the Federal Housing Financing Agency indicates that mortgage rates on purchases of newly built homes ticked up by 3 basis points over June to 4.03 percent. However, at this level, rates remain below the 4.18 peak level recorded in February. Meanwhile, a more commonly used rate reported by Freddie Mac indicates that mortgage rates fell in June. Despite… Read More ›
In the second quarter of 2017, the nation’s economy grew at a faster pace than in the first quarter. According to the Bureau of Economic Analysis, real gross domestic product (GDP) increased at an annual rate of 2.6 percent in the second quarter of 2017. In the first quarter, GDP grew at an annual rate of 1.2 percent. The first… Read More ›
In a statement following its two-day meeting covering July 25 and 26, the Federal Open Market Committee (FOMC or the Committee) decided to “maintain the target range for the federal funds rate at 1 to 1.25 percent”. All FOMC members voted in favor of this decision. In its statement, the FOMC maintains that, at this level, “the stance of monetary policy remains… Read More ›
The Bureau of Economic Analysis (BEA) released the second estimate of real GDP growth in the first quarter of 2017. Economic activity expanded at a 1.2% seasonally adjusted annual rate, an upward revision from the previous 0.7% estimate. This estimate is based on more complete data than was available for the “advance” estimate. Real GDP grew at a 2.1% rate… Read More ›
Economic activity slowed in the first quarter, GDP growth dropped to a 0.7% seasonally adjusted annual rate from a 2.1% rate in the fourth quarter. The main culprits in the slowdown were personal consumption expenditures (PCE) and inventory investment. The Bureau of Economic Analysis (BEA) released the “advance” estimate of real GDP growth in the first quarter of 2017. Despite… Read More ›
The third estimate of real GDP growth in the fourth quarter of 2016, from the Bureau of Economic Analysis (BEA), shows slightly faster economic growth, a 2.1% annual rate, up from 1.9% in the earlier estimate(s). Personal consumption expenditures (PCE) gets all the credit; fixed investment, trade and government spending all declined. PCE rose at a 3.5% rate, up from… Read More ›
The second estimate of real GDP growth in the fourth quarter of 2016 from the Bureau of Economic Analysis (BEA) shows negligible revisions, unchanged overall at a 1.9% seasonally adjusted annual rate. Real GDP grew at an annual rate of 3.5% in the third quarter. Personal consumption expenditures (PCE) grew slightly faster than in the initial estimate, 3.0% annually instead… Read More ›
The Bureau of Economic Analysis (BEA) released the “advance” estimate of real GDP growth for the fourth quarter of 2016. Real GDP grew at a 1.9% seasonally adjusted annual rate, slowing from 3.5% in the third quarter. The BEA emphasizes that the first estimates of quarterly GDP are based on data that are incomplete and/or subject to revision, and subsequent… Read More ›