Last week’s economic reports included readings on construction spending, government reports on jobs, and the national unemployment rate. Weekly reports on mortgage rates and jobless claims were also released. Commerce Department Reports Construction Spending Rose in May The U.S. Commerce Department initially reported less construction spending in May but revised its reading of $1.780 trillion to show that spending rose by 0.10 percent in May to a seasonally adjusted annual rate of $1.782 … [Read more...]

Last week’s economic news included reporting on home builder confidence in national and regional housing markets, a post-meeting statement from the Federal Reserve’s Federal Open Market Committee, and Fed Chair Jerome Powell’s news conference. The National Association of Home Builders released its national and regional housing market indices. Weekly readings on mortgage rates and jobless claims were also published. NAHB Housing Market Indices Reflect Slowing Growth in Housing … [Read more...]

Last week’s economic reporting included readings on new and pending home sales, minutes from the Federal Reserve's recent Federal Open Market Committee meeting, and data on inflation. Weekly readings on mortgage rates and jobless claims were also released. New and Pending Home Sales Fall The annual pace of new home sales fell in April according to the Commerce Department. Year-over-year sales of new homes fell to a pace of 591,000 sales as compared to the March reading of 709,000 sales … [Read more...]