Dees Stribling

Economy Watch: Residential Price Increase Still Strong; Homeownership Slightly Up in 3Q

Home prices nationwide, including distressed sales, increased 12 percent year over year in September. And the U.S. homeownership rate is up from the previous two quarters.

Economy Watch: Banks Loosen Lending Standards on Biz Loans; Mortgage Delinquencies Edge Up

U.S. banks have eased their lending policies for commercial and industrial loans, citing increased competition as the major factor. And according to LPS, 6.5 percent of U.S. mortgages were delinquent in September, up from the previous month.

Economy Watch: Manufacturing Sector Continues Expansion; Auto Sales Status Quo

Activity in the U.S. manufacturing sector expanded in October for the fifth month in a row, and the nation’s overall economy grew for the 53rd consecutive month. And U.S. auto and light truck sales increased by 5.9 percent compared to last year, but are down slightly from last month.

Economy Watch: Federal Deficit Shrinks in Fiscal ’13; GSEs: Mortgage Delinquencies Down; Initial Jobless Claims Dip

For fiscal 2013, the federal deficit was 4.1 percent of GDP, compared with 6.8 percent in fiscal 2012. The rate of single-family serious delinquency for mortgages tied to the GSE dropped from 2.61 percent in August to 2.55 percent in September. And for the week ending Oct. 26, initial unemployment claims dropped by 10,000 from the previous week’s figure.

Economy Watch: Fed Says No Taper for Its Stimulus; CPI Points to Very Low Inflation; ADP Reports Modest Job Growth

The Federal Open Market Committee said on Wednesday it isn’t going to taper its stimulus just yet. The Bureau of Labor Statistics reported that there hasn’t been much inflation. And according to ADP, the private sector added 130,000 jobs in October.

Economy Watch: Case-Shiller: Continued Residential Price Hikes; Retail Sales Dip

The latest Case-Shiller home price indexes indicated rising prices in several markets. And national retail and food services sales for September decreased, slightly, by 0.1 percent compared to the previous month.

Economy Watch: Pending Home Sales Decline; Industrial Production Up, but Not Manufacturing; Single-Family Delinquencies Dip

The Pending Home Sales Index dropped to 101.6 in September from a downwardly revised 107.6 in August. Industrial production increased in September by 0.6 percent, but manufacturing added little to the September gain. And the single-family serious delinquency rate declined from 2.6 percent in August to 2.5 percent in September.

Economy Watch: Consumers Feeling Glum; Durable Goods Orders Rise Due to Aircraft Sector

The Reuters/University of Michigan consumer sentiment index dipped downward again to end October at 73.2, dropping from the end of September reading of 77.5. But durable goods orders surprised on the upside in September.

Economy Watch: Fed Wants Big Banks to Beef Up Liquidity; Hires, Separation Rates Stagnant

The Federal Reserve proposed a rule requiring large financial entities to strengthen their liquidity positions even more than they already have. And there were 3.9 million job openings on the last business day of August, little changed from July.

Economy Watch: Home Price Growth Slows; Mortgage Delinquencies, AIA Billings Index Edge Up

The House Price Index was up 0.3 percent in August compared with the previous month, although economists expected a larger monthly increase. The mortgage delinquency rate increased from 6.2 percent in August to 6.46 percent in September. And the American Institute of Architects reported that its September Architecture Billings Index was 54.3, up from 53.8 in August.