Items Tagged with 'Housing Economy'

ARTICLES

New home sales beat expectations, rise 10.8%

Fastest pace since February 2015
New home sales kept pace with previous strong economic housing news this month, except its rise isn’t conditional on TRID. In fact, new home sales rose significantly more than the 2.0% expected, rising from 491,000 to a 544,000 unit pace, the fastest pace since February 2015.
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Case-Shiller: Home prices can't offset struggling economy

Only the consumer portion of the economy is doing well
Although home prices continued to increase, boding well for the economy, it’s still not strong enough to offset some of the trouble spots. According to the latest S&P/Case-Shiller U.S. National Home Price Index, covering all nine U.S. census divisions, home prices recorded a 5.3% annual increase in November 2015 versus a 5.1% increase in October 2015.
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Jobless claims post highest reading since July 2015

Surpasses consensus expectations
Jobless claims increased to 293,000 filings for the week ending Jan. 16, surpassing an industry consensus of 275,000. In Econoday’s analysis of the report, it noted that while there were no special factors affecting the data, volatility in this series is not unusual at the start of the year.
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JPMorgan barely phased by TRID, financially

CFO weighs in on TRID during earnings call
JPMorgan Chase weighed in on the implications of TRID during its fourth-quarter conference call, shedding light on where big banks stand on the issue. Marianne Lake, chief financial officer of JPMorgan Chase, said that while TRID did cause some delays, it did not impact the bottom line very much.
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Goldman Sachs earnings dented by RMBS settlement

CEO positive on bank's future
Goldman Sachs recorded net revenues of $33.82 billion and net earnings of $6.08 billion for the year ended Dec. 31, 2015. However, despite the profit, the recent $5 billion settlement billion between Goldman Sachs and the federal government over claims related to toxic mortgage bonds sold to investors in the run up to the financial crisis managed to put a dent in the banks earnings.
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Stock markets tank as investors go bearish

This is the worst start ever to a calendar year
Investors are scrambling as they continue to head into what is the worst start ever to a calendar year for the stock market. But amid all the negative reports, an article in Business Insider said that in a note to clients, Deutsche Bank's Jim Reid gave some reason for optimism for the future.
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