Items Tagged with 'Wells Fargo'

ARTICLES

  • Homebuilder confidence weakens as cost concerns mount

    Builder sentiment slides two points to 64 in June
    As cost and labor concerns continue to grow, homebuilder confidence retreated to 64 points in June, according to the National Association of Home Builders/Wells Fargo Housing Market Index. NAHB Chairman Greg Ugalde said while demand for single-family homes remains sound, builders continue to report rising development and construction costs, with some additional concerns over trade issues.
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  • Who wants to be CEO of Wells Fargo? No one, apparently

    Big bank struggles to fill top job
    It seems Wells Fargo is having trouble finding someone willing to take on the role of leading the embattled bank into a new, scandal-free era after its CEO stepped down in March. According to The Wall Street Journal, the bank's board has approached a select number of candidates, and no one appears to be taking the bait.
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  • April’s construction spending drops 1.2% from last year

    Residential construction spending falls 0.6% from the previous month
    The U.S. Census Bureau announced that construction spending during April 2019 was estimated at a seasonally adjusted annual rate of $1.3 trillion. Although April’s rate is nearly the same as March’s, the organization revealed April’s spending is 1.2% below the April 2018 estimate.
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  • Homebuilders are becoming more confident with the housing market

    But labor and material cost concerns still weigh heavy
    Despite affordability and labor constraints, home builder confidence rose to 66 points in May, according to the National Association of Home Builders/Wells Fargo Housing Market Index. NAHB Chief Economist Robert Dietz said although the market is improving, builders continue to deal with factors that are holding back supply and harming affordability.
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  • Construction spending falls 0.9% in March

    Residential construction spending drops 1.8% from the previous month
    The U.S. Census Bureau announced that construction spending during March 2019 was estimated at a seasonally adjusted annual rate of $1.28 trillion, retreating 0.9% from the revised February estimate of $1.29 trillion.
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  • The biggest earners in finance don't work at banks

    This is who's really raking in the big bucks
    In the world of finance, you might think it's the bankers who are making money hand over fist, but apparently, that's no longer the case. Now, professionals working in real estate are the ones who are raking in the big bucks, as REITs posted some of the highest median pay figures for employees. Here's how much employees make at companies in the mortgage sector.
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  • This is how America's housing affordability is impacting credit quality

    Affordability has returned to average historical levels, and it's having a ripple effect
    It's official: The era of unusually affordable housing has ended. Well, according to a recent Moody's Investors Services analysis. The organization claims that America's housing affordability has returned to average historical levels, therefore impacting credit quality across numerous housing-related sectors.
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  • Wells Fargo earnings top expectations weeks after CEO departs

    Biggest bank lender says mortgage pipeline swelled as rates dropped
    Wells Fargo, the biggest U.S. bank originator of mortgages, had its best first quarter in five years without much help from its home-loan business. Look for that to change next quarter, based on the mortgage pipeline Wells Fargo reported. The San Francisco bank said it had $32 billion of unclosed first-lien mortgages that will go on its books in the current quarter, compared with $24 billion it reported for the same period a year earlier.
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