All Paper Economy
Home prices rise, but is it just the season?Home prices are enjoying a very clear upward trend, but the rise in home prices may be a mere side effect of the more active spring and summer buying seasons.
Extended unemployment numbers show further slight declinesToday’s jobless claims report showed a decline to both initial and continued unemployment claims with seasonally adjusted initial claims remaining below the 400K level. Seasonally adjusted “initial” claims declined to 350,000.
Mortgage rates fall to 3.71 percent, hit yet another record lowMortgage rates with a 30-year fixed interest rate declined to 3.71% since last week while the purchase application volume increased 3.0% and the refinance application volume declined 3.0% over the same period. last week's disappointing jobs report pushed mortgage rates to their 10th record low in 12 weeks.
Too much too soon? Hong Kong may be experiencing housing bubbleAccording to newly released figures, in April, the price of residential properties increased over 3% since March and climbed 7.11% above the level seen in April 2011, leaving some analysts wondering if the region might be experiencing a bubble.
On the margins: Calculating the 'total unemployment' rateThere are effectively two unemployment rates, one including all discouraged and underutilized labor, and one a more restricted grouping. The “total” rate of unemployment should include both traditionally unemployed and underutilized workers.
New unemployment numbers show slight year-over-year gainsUsing numbers provided by Radar Logic's home price index, SoldAtTheTop analyzes some of the deeper trends in the current US housing market. The latest numbers show the first year-over-year gains since mid-2010.
Unemployment report shows economy still stuck in low gearUnemployment report shows the US economy still stuck in low gear. Today’s numbers show a situation potentially even worse than the early 1980s, considered by some to be the worst period of unemployment behind the Great Depression.
Jobless claims report shows another small declineToday’s jobless claims report showed another small decline to initial unemployment claims and a flattening to continued unemployment claims. Seasonally adjusted initial claims continued to remain below the important 400K level.
June job report: Gains made in private sector employmentJune jobs report numbers released today show the economy is currently showing the most growth for small to mid-sized service providing jobs with goods-producing jobs remaining near trough levels.
May construction spending shows incremental increasesOn a month-to-month basis, total residential spending increased 2.96 percent from April and rose almost five percent above May 2011 levels. But spending still remained 60 percent below the kind of peak levels seen in 2006.
Fixed-rate mortgage interest rates remain flat this weekResults of a weekly survey covering all residential mortgage originations shows the average rate for a 30 year fixed rate mortgage went flat since last week while the purchase application volume declined 1.0 percent.
Jobless claims numbers show small declinesJobless claims for the week show declines in both initial and continued unemployment claims this period, while seasonally adjusted initial claims remained below the closely watched 400K level.
Pending home sales show signs of life, finallyThe National Association of Realtor's chief economist Lawrence Yun suggests that 2012 is shaping up to be a "superior" year with sales projected as being up 10 percent overall for the year.
Home sales index rises in May, up 13.3 percent from 2011Home sales data recently released by the National Association of Realtors showed that its index of sales agreements rose in May, up 13.3 percent from 2011. The trend matches the fastest pace for the index in two years.
Adjusted initial jobless claims decline, continued claims flatThe latest jobless claims numbers show a decline to initial unemployment claims and a flattening to continued unemployment claims while seasonally adjusted initial claims remained below the closely watched 400K level.
More news on the housing front as mortgages continue to declineThe latest results of a weekly applications survey covering roughly 50 percent of all residential mortgage originations showing in part that the average rate for a 30 year fixed rate mortgage went flat at 3.79% since last week.
Gains made in homebuilding, but permits still below peak levelsThe New Residential Construction Report showed gains in May with single family permits increasing from April. Single family housing permits increased around 4 percent from April, and nearly twenty percent above May 2011 levels.
Homebuilder blues: June's Housing Market Index numbers are inWhile all indicators have made notable increases as of late, as indicated by the latest Housing Market Index numbers, conditions still remain distressed by historic standards, even as the industry starts to again see signs of life.
Another day, another jobless reportToday’s jobless claims report showed an increase to initial unemployment claims and a decrease to continued unemployment claims. There are also 2.69 million additional people receiving "extended" federal unemployment through a special program.
Housing prices head higher as selling season heats upNew data for April housing market shows prices declined by 1.17 percent, year-over-year from last April, but are now headed higher as is typical of the more active spring-to-summer selling climate.
