Dees Stribling
Economy Watch: Construction Spending Ekes Out Gain; GSE Delinquencies Slipping; Car Sales Spike
Construction spending edged up in April by 0.4 percent compared to March.The rate of serious delinquencies among single-family property mortgages that are controlled by Fannie Mae dropped from 3.02 percent in March to 2.93 percent in April. And light vehicle sales were up 10 percent in May, compared to last year.
Economy Watch: Strong Q1 for Fannie Mae; Weekly Unemployment Claims Hit Pre-Recession Mark; Student Debt May Slow Growth
Fannie Mae posted a record $8.1 billion in income during the first quarter of 2013. Student debt may impede future economic growth. And unemployment claims for the week ending May 4 were 323,000—the lowest level since before the Great Recession
Economy Watch: Freddie Mac in the Black; Las Vegas Home Sales Improve
The government-sponsored enterprise reported net income of $4.6 billion for the first quarter, compared to $4.5 billion for the fourth quarter of 2012.
Economy Watch: Home Prices Continue Upward Trajectory; Jobs Openings Fall; Consumer Credit Rises
Home prices were up 10.5 percent, providing more evidence that the housing market is in recovery mode; jobs openings fell from 3.9 million to 3.8 million; and consumer credit saw an increase.
Economy Watch: Positive News in Case/Shiller, Consumer Confidence, Restaurant Indices
Tuesday proved to be an upbeat day, and not just because the markets rose. The S&P-Case/Shiller Home Price Indices, the Consumer Confidence Index and the Restaurant Performance Index all turned in results – and they were all very positive.
Economy Watch: Pending Home Sales, Personal Income Rise; U.S. to Pay Down Debt for First Time Since 2007
The National Association of Realtors’ Pending Home Sales Index hit its highest level in two years; the U.S. will pay down its debt for the first time since 2007.
Economy Watch: Healthy Rise for February Retail Sales; HARP Refinancings Topped 1 Million in 2012
Retail and food services sales rose 1.1 percent last month and 4.6 percent compared to February 2012.; nearly 1.1 million refinancings were completed through the federal HARP program last year.
Economy Watch: Shrinking Trade Gap Points to Q4 Growth; Railroads Ship More Construction Materials
The $10 billion decline in the trade gap from November to December hints at fourth-quarter economic growth.
Economy Watch: Home Prices Continue Upward Trajectory; U.S. Banks Faring Better
U.S. home prices were up 6.3 percent year-over-year in October. The U.S. banking business is in recovery mode. And Wall Street registered a small decline for the day.
Economy Watch: Manufacturing Activity Takes Dip; Construction Spending Edges Up; Car Sales Spike
The purchasing manager’s index declined to the lowest level since July 2009. U.S. construction spending was up in October. Light vehicle sales were also up by 9 percent in November, compared to the previous month.