A real estate agent walks into a home for sale in Lancaster, Ohio. Ty Wright | Bloomberg | Getty Images The average rate on the 30-year fixed mortgage fell to the lowest level since October this week, at 3.69%, according to Mortgage News Daily. That has an already competitive housing market heating up even more. […]
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US trade deficit at $43.09B in November, vs $43.6B estimate
The U.S. trade deficit fell more than expected in November ahead of negotiations with China that cooled the simmering tariff battle between the two sides. The shortfall in goods and services declined to $43.09 billion for the month, below the $43.6 estimate from economists surveyed by Dow Jones. That represented the lowest deficit since October […]
US consumer confidence December 2019
People shopping at a Costco store Scott McIntyre | Bloomberg | Getty Images U.S. consumer confidence dipped slightly in December, according to data released by The Conference Board on Tuesday. The metric came in at 126.5 for the month, down from 126.8 in November. Economists polled by Reuters expected a reading of 128.2 for December. […]
US home prices gains accelerate in October for 2nd month
U.S. home prices rose faster in October than the previous month as many would-be buyers competed for a limited supply of available properties. The S&P CoreLogic Case-Shiller 20-city home price index rose 2.2% in October from a year ago, up from a 2.1% annual gain in September. The Tuesday report suggests that home price increases […]
US GDP Q3 2019 final reading
A General Motors assembly worker works on assembling a V6 engine, used in a variety of GM cars, trucks and crossovers, at the GM Romulus Powertrain plant in Romulus, Michigan, August 21, 2019. Rebecca Cook | Reuters U.S. economic growth nudged up in the third quarter, the government confirmed on Friday, and there are signs […]
A Trump impeachment bad for your finances? Depends on your politics
If you’re concerned that your fellow Americans may be worried about a potential hit to their pocketbooks from impeachment of President Donald Trump, the most recent consumer confidence reading could lead you to spend more money and much less time focused on whether the president will be removed from office. The consumer has been the […]
US housing starts building permits November 2019
U.S. homebuilding increased more than expected in November and permits for future home construction surged to a 12-1/2-year high as lower mortgage rates continue to boost the housing market and support the broader economy. Housing starts rose 3.2% to a seasonally adjusted annual rate of 1.365 million units last month, with single-family construction racing to […]
US industrial production November 2019
A General Motors assembly worker moves a V6 engine, used in a variety of GM cars, trucks and crossovers, from the final assembly line at the GM Romulus Powertrain plant in Romulus, Michigan, August 21, 2019. Rebecca Cook | Reuters U.S. manufacturing output rebounded more than expected in November, as the end of an almost […]
Homebuilder confidence jumps to highest level in 20 years
A stronger economy and a severe housing shortage have the nation’s homebuilders feeling better than they have in two decades. Builder confidence in the newly built, single-family home market jumped 5 points in December to 76, the highest reading since June 1999, according to the National Association of Home Builders/Wells Fargo Housing Market Index. Anything […]
Mohamed El-Erian sees US-China economic war beyond trade after voting
Economist Mohamed El-Erian told CNBC on Monday that he doesn’t think the phase one trade agreement is the first step to a long-term cooling in U.S.-China relations. In fact, the chief economic advisor at Allianz said he believes that the tensions will be further inflamed after the upcoming 2020 presidential election ends. “I think past […]
