Home prices post record 15.3% drop
June 25, 2008
U.S. home prices posted record declines in April, extending a painful losing streak for U.S. home prices.
Federal Reserve Leaves Rate Unchanged
June 25, 2008
The pause was widely anticipated by financial markets, which were focused more on the language of the announcement to see what degree of concern the Fed has over rising inflation versus a struggling economy.
FOMC Holds Target Rate at 2.00%, Cites Uncertainty in Inflation Outlook
June 25, 2008
The Federal Reserve announced Wednesday that it would hold the
Fed funds target rate at 2.00%, as was widely expected.
The accompanying statement was balanced between a concern for slowing
growth and rising uncertainty in inflation.
New Homes Sales Continue to Fall, Down 2.5% in May
June 25, 2008
After five months of declines in the pace of new home
sales, April’s uptick appears to have been temporary as new home
sales in the U.S. continued to fall back 2.5% down in May, declining to
512k, in line with expectations from economists.
Mortgage Rates Continue to Set New 2008 Records, Applications Fall
June 25, 2008
Fixed-rate mortgage
interest increased again during the week ended June 19 according to
results from the Primary Mortgage Market Survey released by Freddie
Mac.
Wednesday's Events: FOMC Rate Decision, U.S. New Home Sales, Durable Goods
June 25, 2008
U.S. durable goods orders, new home sales, and the
Department of Energy’s weekly oil inventories are the highlights of the
early morning’s events, but all data of the day will be eclipsed by the
FOMC’s rate decision at 2:15 p.m. EDT.
Durable Goods Excluding Transport Falls in Line with Expectations in May
June 25, 2008
Durable goods excluding transportation fell by 0.9%
in May in the U.S. durable goods report on Wednesday, according to the
Department of Commerce. Economists were expecting a 1.0% monthly decline
following April’s downwardly revised 1.9% increase.
MBA Mortgage Applications Decline in Week Ending June 20
June 25, 2008
Weekly mortgage applications in the United States
fell further in the week ending June 20, according to data from the
Mortgage Bankers’ Association (MBA) on Wednesday, which reported that
applications fell by 9.3% week-over-week.
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