All Paper Economy
Surprise! Jobless claims jumped by 25,000 last week.Initial jobless claims in the US jumped 25,000 to 304,000 last week, moving the average for seasonally adjusted jobless claims above the closely-watched 300,000 level.聽
Home prices slump nationwide in NovemberHome prices on the S&P Case Shiller home price indices declined from October ,with prices falling 0.26% while the Composite-20 index declined 0.22% over the same period.聽
Home builder sentiment falls, but optimism still strongHome builder sentiment went flat in January, with聽the composite HMI index remaining at 57 while the "buyer traffic" index declined to a level of 44 from 46 in the prior month.
Mortgage rates fall to 3.94 percent as applications swoonThe average rate for a 30 year fixed rate mortgage decreased 4 basis points to 3.94 percent since last week while the purchase application volume聽declined 5 percent and the refinance application volume declined 12 percent over the same period.聽
Mortgage rates dip to a 16-month lowMortgage rates for a 30-year fixed rate loan fell to 4.08 percent since last week, the lowest in nearly a year and a half. In addition to falling mortgage rates, the聽the purchase application volume聽decreased 1 percent and the refinance application volume increased 11 percent over the same period.
Construction spending slumps in JuneConstruction spending in the US declined in June, according to the US Census Bureau. Total residential spending declined 0.3 percent from May, although construction spending is 7.4 percent higher in June compared to last year.聽
Total unemployment in July rose to 12.2 percentUS total unemployment increased to 12.2 percent in July, according to Bureau of Labor Statistics. The traditionally-reported unemployment rate also rose to 6.2 percent.
Pending home sales dip with supply shortages, flat wagesPending home sales in the US declined 1.1 percent in June, according to the National Association of Realtors. There are conditions that deter potential buyers, such as a shortage of homes in parts of the country.
US new home sales drop in JuneNew home sales in the US fell 8.1 percent in June, signaling that real estate is still a weak spot in the US economy. June US new home sales are also 11.5 percent below June 2013 levels.
US economic activity weakens, Chicago Federal Reserve findsNational economic activity weakened in June, according to the Chicago Federal Reserve National Activity Index. The Chicago Federal Reserve's index used 85 indicators of national economic activity in four overall categories.聽
US retail sales tick up in JuneUS retail sales rose 0.2 in June from May and are up 4.3 percent since last year, according tot he US Census Bureau. Sales of nominal 'discretionary items' such as home furnishings and consumers fell from May's levels but are higher compared to last year.聽
Rate for 30-year mortgage ticks up, MBA findsMortgage rates for 30 year and 15 year fixed rate mortgages went up, according to the Mortgage Bankers Association. Mortgage rates, however, are still down from the sky-high levels back in 2007 before the Great Recession and the housing market collapsed.
Total unemployment, traditionally-reported unemployment rates both decline in June'Total unemployment' declined to 12.1 percent in June, while traditionally-reported unemployment rate also went down to 6.1 percent. The US聽Bureau of Labor Statistics released its report last week.
US construction spending show mixed results in MayThe US Census Bureau released the latest read on construction spending Tuesday, showing a mixed bag for May. Both total private construction spending and single family construction spending declined, but non-residential construction spending increased.
National economic activity grew in May, Chicago Fed findsNational economic activity grew in May, according to the Chicago Federal Reserve National Activity Index. The index looks at 85 indicators that fall under four categories such as 'employment, unemployment, and income' and 'sales, orders, and inventories.'
More than 79,000 people no longer receive food stampsIn March, 79,476 people were removed from SNAP. The number of households receiving food stamps benefits has fallen 2.76 percent since last year.
Mortgage rates fall to 4.16 percentMortgage rates for a 30-year fixed mortgage fell four basis points to 4.16 percent since last week. Mortgage rates have been falling steadily since the beginning of 2014.聽
Number of long-term unemployed workers declines, but still far from pre-recession levelsThe US Department of Labor released its employment situation report on Friday. Less workers were employed for 27 weeks or longer, but the US still has a long way to go before returning to pre-recession levels.
Weekly jobless claims report shows mixed resultsThe US Department of Labor released its weekly jobless claims report on Thursday. Initial unemployment claims increased by 8,000, but continued unemployment claims decreased by 20,000.
ADP: Private sector added 179,000 jobs in MayThe private sector added 179,000 jobs in May, according to the ADP's latest National Employment Report. This brought up total employment level 2.06 percent higher than it was in May 2013.
