Items Tagged with 'Economy'

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  • Janet Yellen: Economy's strong run could last through 2019

    Former Fed chair tells MBA crowd she's cautiously confident in economic stability
    At the MBA Annual on Monday, former Federal Reserve Chair Janet Yellen told the crowd there are strong indicators that the economy is in a good place. But, she does warn of a few potential flies in the ointment, like overly zealous deregulation, shadow banking and an overheated economy.
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  • Freddie Mac: Mortgage rates reach 7-year high

    Escalating home prices putting downward pressure on purchase demand
    After weeks of climbing, mortgage rates have now risen to their highest level in seven years, according to Freddie Mac’s latest Primary Mortgage Market survey. Freddie Mac Chief Economist Sam Khater said down payments are the primary hurdle for many borrowers, and that's affecting sales high-priced markets.
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  • Dow Jones drops more than 800 points in the face of rising rate fears

    Worst drop the Dow has seen since February
    Rate hikes have spurred a selloff and the Dow Jones Industrial Average received its worst pummeling since February, dropping more than 800 points today. It’s been a tough month for the major indexes with S&P 500 and the Dow down more than 2.7% and 1.6%, respectively. And the Nasdaq has lost more than 5.5%.
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  • September jobs report: Unemployment falls to 3.7%

    Non-farm payrolls increased by 134,000
    The unemployment rate moderately fell to 3.7% in September, according to the latest Employment Situation Summary report from the U.S. Bureau of Labor Statistics. One expert said although September’s wage increase pales in comparison to growing home prices, any increase is helpful for buyers trying to get in the market.
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  • Freddie Mac: Mortgage rates cool slightly

    The 5-year Treasury moderately increased from last week
    After five weeks of consistent climbing, mortgage rates cooled off slightly, according to Freddie Mac’s latest Primary Mortgage Market survey. Freddie Mac Chief Economist Sam Khater said there is upside risk to mortgage rates as the economy remains very robust and this is reflected in the very recent strength in the fixed income and equities markets.
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  • ADP: Employment increases 230,000 jobs in September

    Construction jobs are on the rise
    U.S. employment rates continue to climb, increasing in nearly every sector in September, according to the ADP and Moody's Analytics National Employment Report. ADP Research Institute Vice President and Co-Head Ahu Yildirmaz said the labor market continues to impress.
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  • Freddie Mac: Mortgage rates reach highest level since 2011

    Mortgage rates climb for fifth consecutive week
    Mortgage rates spiked to their highest level in over seven years, according to Freddie Mac’s latest Primary Mortgage Market survey. Freddie Mac Chief Economist Sam Khater said the 30-year fixed-rate mortgage climbed for the fifth consecutive week to 4.72%, which is a high not seen since April 28, 2011.
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  • August jobs report: Unemployment holds steady at 3.9%

    Non-farm payrolls increased by 201,000
    The unemployment rate in August remained at 3.9%, according to the latest Employment Situation Summary report from the U.S. Bureau of Labor Statistics. One economist said the 9 year high in wage growth ensures the federal government will raise rates at their meeting later in September.
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  • Freddie Mac: Mortgage rates continue to inch higher

    The 30-year fixed-rate increases for second consecutive week
    Mortgage rates continue to slightly increase, according to Freddie Mac’s latest Primary Mortgage Market survey. Freddie Mac Chief Economist Sam Khater said weakening affordability is hindering prospective buyers, but the good news is that purchase mortgage applications have now rebounded to 2017 levels.
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