After raising the target range for the federal funds rate in 2018, the Fed's Federal Open Market Committee did not raise the Central Bank's key interest rate at its meeting of January 29 and 30. While Committee members did not raise the Fed's key rate, members were divided on the interest rate decision. FOMC Members Divided On Interest Rate Decision Minutes of January's FOMC meeting indicated that member viewpoints varied about how the Fed should deal with the Fed's target interest rate range. … [Read more...]
Case-Shiller: Home Prices Lower in November
Home price growth continued to struggle in November, with Case-Shiller's 20-City Home Price Index moving from October's reading of 5.30 percent annual growth to 5.20 percent growth in November. This was the lowest reading since January 2015. Las Vegas, Nevada remained first in home price growth rate with a year-over-year home prices growth of 12 percent. Phoenix, Arizona's year-over-year home price growth rate was 8.10 percent and Seattle, Washington held third place with a year-over-year home … [Read more...]
NAHB: Home Builder Confidence Grows After Lowest Level in 3 Years
After two months of declining builder confidence, the National Association of Home Builders Housing Market Index gained two points in January with a reading of 58. Component readings of the HMI were also higher with builder confidence in current market conditions rose two points to an index reading of 63. Builder confidence in housing market conditions over the next six months rose three points to 64. The index for buyer traffic in new housing developments rose one point to 44. While index … [Read more...]
FOMC Raises Key Rate, Forecasts 2 Rate Hikes in 2019
During its post-meeting statement, the Federal Open Market Committee of the Federal Reserve announced that its target range for the Fed's key interest rate would increase one quarter percent to 2.25 to 2.50 percent. While this rate hike was not expected by the Executive branch, it met analyst expectations. FOMC said in its customary post-meeting statement that members expect to make two interest rate hikes in 2019 as compared to three rate hikes in 2018 and the Committee's original forecast of … [Read more...]
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