Last week's economic news included readings on new and existing home sales, Case-Shiller Home Price Index reports and an announcement by the Federal Open Market Committee of the Federal Reserve. Weekly readings on mortgage rates and new jobless claims were also released. New and Existing Home Sales Mixed in June Sales of new homes rose in June rose to a seasonally- adjusted annual rate of 610,000 homes. Analysts expected 614,000 new home sales based on May's reading of 605,000 new home sales. … [Read more...]

Last week's economic news included releases from the National Association of Home Builders and releases from the Commerce Department on housing starts and building permits issued. Weekly readings on mortgage rates and new jobless claims were also released. NAHB Housing Market Index Dips; Builder Sentiment Remains Strong Higher lumber costs were cited by the National Association of Home Builders as contributing to lower readings for the group's monthly Housing Market Index. July's reading was two … [Read more...]

Inflation Rate Stays Flat in June Inflation was flat in June, but achieved a 0.00 percent reading as compared to May's – 0.10 percent reading. Analysts expected a June reading of +0.10 percent reading month-to-month. The Federal Open Market Committee of the Federal Reserve has established a benchmark reading of 2.00 percent inflation year-over-year as an indication of economic recovery. In recent months, the Fed has increased its target federal funds rate at each meeting of the FOMC. A … [Read more...]