“The only people who never tumble are those who never mount the high wire.” Oprah Winfrey. After reaching higher levels at the end of 2014, Gross Domestic Product (GDP) tumbled in the first quarter of 2015. The first reading for first quarter 2015 GDP fell to an anemic 0.2 percent, well below expectations and down […]… Read more »

“I don’t know why I go to extremes.” Billy Joel. Temperatures may be warming across much of the country, but the extreme weather from this winter is still impacting some areas of the housing sector. Existing Home Sales in March surged by 6.1 percent from February to an annual rate of 5.19 million units. This […]… Read more »

“You take the good, you take the bad.” The Facts of Life. That television series theme song also applies to recent economic news, as housing is a bright spot while economic growth overall remains sluggish. New Home Sales surged in February, rising 8 percent from January to an annual rate of 539,000 units, while January’s […]… Read more »

Housing and manufacturing reports are front and center this week. Plus, the Fed meets. Manufacturing data from the Empire State Index will be released on Monday, followed by the Philadelphia Fed Index on Thursday. In housing news, Monday brings the NAHB Housing Market Index for March. On Tuesday, look for February’s Housing Starts and Building […]… Read more »

Economic reports don’t begin until Thursday, but the end of the week features several key data points to note. Weekly Initial Jobless Claims will be released on Thursday, as usual. Also on Thursday, Retail Sales for February will be released. Friday brings the Producer Price Index, which measures wholesale inflation, along with the Consumer Sentiment […]… Read more »

They say that March comes in like a lion, but recent housing reports have sounded more like a whimper than a roar. Existing Home Sales slipped in January, coming in below expectations. The annual rate of 4.82 million units was the lowest level since last April as tight inventories, seasonal weather and the ongoing rise […]… Read more »

“I knew the record would stand until it was broken.” Yogi Berra. Record low temperatures have hit much of the nation, but that’s not the only chill in the air. January Housing Starts fell by 2 percent from December to an annual rate of 1.065 million units. The weaker than expected numbers were due in […]… Read more »

“Yet, through all the gloom, I can see the rays of ravishing light and glory.” John Adams. The gloom of recent years seems to be gone from the labor sector, as it is a bright spot in our economy at the start of this year. The January Jobs Report showed that 257,000 jobs were created, […]… Read more »

“Keep lifting me higher.” Jackie Wilson may have been singing about love, but it’s weak economic data and mixed corporate earnings that have been pushing Mortgage Bonds higher, helping home loan rates remain near historic lows. The first reading of Gross Domestic Product (GDP) for the fourth quarter of 2014 fell to 2.6 percent from […]… Read more »

“There’s no place like home.” News from the housing sector was front and center, and with rates remaining near historic lows, great opportunities remain for those looking to purchase or refinance. Housing Starts sizzled in December, rising 4.4 percent from November to 1.089 million annualized units, coming in above expectations. The rise in Housing Starts […]… Read more »