In a recent article, the National Association of Home Builders (NAHB) explained some of the effects the housing market is experiencing (or can soon expect) from the partial government shutdown. While we are nonpolitical, we felt it was important and timely to share this information with our readers. In this post, we’ll review the major highlights from the NAHB report and provide a simple breakdown of the shutdown and how different areas of the housing and real estate markets are being impacted. What is a Government Shutdown? A government shutdown can occur when there is a delay or dispute over the federal
Read more →Archive for the Economic News Category
Consumer confidence rose in September, reaching the highest level in 18 years. According to the results of a survey conducted by the Conference Board, a global independent research organization, consumer confidence hit 138.4 in September, surpassing August’s level of 134.7. This is close to the all-time high of 144.7 in 2000, the Conference Board stated. Economists at Reuters estimated consumer confidence level to reach 132 in September. “Consumers’ assessment of current conditions remains extremely favorable, bolstered by a strong economy and robust job growth,” said Lynn Franco, director of economic indicators at the Conference Board. “These historically high confidence levels should
Read more →Investors Concerned by ECB, Economic Data on Target Overview: Over the past week, mortgage rates reached their highest levels in seven years, mainly due to comments by a European Central Bank (ECB) official. The major U.S. economic data came in close to expectations and caused little reaction. On Monday, comments from an ECB official were viewed by investors as a little more hawkish than expected, meaning in favor of a faster pace of rate hikes. François Villeroy de Galhau, the governor of the Bank of France, said that the ECB might soon provide guidance about the timing of its first
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