All Paper Economy
Private employers add 200,000 jobs in JulyThe employment situation looked slightly improved in July, as private employers added 200,000 jobs to the economy — bringing total employment 1.79 percent above what it was in July 2012.
Mortgage rates trending downwardsThe average rate for a 30-year fixed rate mortgage increased by 1 basis point to 4.44 percent this week. Overall, however, mortgage rates appear to be going down.
Case-Shiller: Home prices jump in MayHome prices on the Case-Shiller 10-city Index rose 2.48 percent in May, and the 20-city index rose 2.44 percent over the same period. The latest data is continuing to demonstrate significant resiliency compared to past years.
Pending home sales down in JuneAn increase in interest rates contributed to pending home sales falling 0.4 percent from May, experts say.
Home prices up in MayHome prices increased 0.68 percent nationally from April, and 7.24 percent above the level seen in May 2012.
July: Good month for homebuildersHomebuilders are feeling more confident as more people enter the market to buy homes and fewer homes are being left on the market.
More Americans collecting SNAP food stampsAs the economic downturn stretches on, more Americans are participating in the federal food stamp program, SNAP (Supplemental Nutrition Assistance Program). In April alone, the total number of food stamp recipients increased by 2.75 percent from one year ago.
Is the recession returning?Economics can estimate what the probability of an economic recession is by looking at long and short yields.
Mortgage rates 'explode,' moving to 2-year high30 year fixed-rate mortgages rose 10 basis points from last week, jumping to 4.52 percent.
Home sales jump up in MayPending home sales climbed up, perhaps because sidelined buyers are jumping into the market before interest rates rise further, the chief economist of the National Association of Realtors said.
Unemployment benefits claims drop to 346,000While seasonally adjusted "initial" unemployment benefit claims continued to decline, "extended" unemployment benefit claims have gone up since the middle of 2008.
Remaining in slump, economy grows slowlyAccording to the Chicago Federal Reserve, the US economy is still near contraction, or negative growth. The index, however, improved from -0.52 in April to -0.30 in May.
Existing home sales jump 4.3 percent in MayExisting home sales rose 4.2 percent in May and 12.9 percent above the level seen in May 2012.
More Americans claim extended unemployment benefitsThe number of people claiming initial unemployment status increased from 336,000 to 354,000 claims from last week, while the number of people claiming continued unemployment status declined by 40,000 claims to 2.951 million. Overall, more Americans are claiming extended unemployment benefits.
Home mortgage rates rise slightlyThe average rate for a 30-year fixed rate mortgage rose to 4.01 percent, while the number of applications for purchases declined 3 percent. Overall, rates have risen steadily for the past few weeks.
Single family homes crawl back upWhile the number of total housing permits declined 3.1 percent in May, the number of single family housing permits increased 1.3 percent from April. Still, single family housing permits remained well below levels seen before the housing market crash.
US homebuilder confidence soars to seven-year highConfidence in the housing market surged in June, as the Housing Market Index climbed to 52 — the highest level seen since early 2006.
Nearly one in five receiving food stampsThe number of individuals receiving food stamp benefits increased to 47.72 million — or 19.48 percent of the population — in March, the latest month for which data was available.
175,000 jobs added in MayIn May, 175,000 jobs were created, and unemployment rose slightly to 7.6 percent in the same period.
Unemployment figures for May show 'mixed' resultsThe May employment report showed that the median term of unemployment declined, dipping to 17.3 weeks. Still, the economic situation remains bleak, even compared to the early 1980s — a time considered by economists to be the worst period of unemployment since the Great Depression.
