Last week, the Federal Reserve pledged to leave the Fed Funds Rate near 0.000 percent until at least mid-2013. For credit card holders in Washington who carry a monthly balance, this is good news. Because of the Fed’s call, credit card rates are unlikely to rise before mid-2013.
But cardholders can...
Single-Family Housing Starts fell to a seasonally-adjusted, annualized 425,000 units in July, according to the Census Bureau.
A “Housing Start” is defined as a home on which construction has started and ground has broken.
Furthermore, Single-Family Housing Starts were revised lower for both May...
Two months after posting their worst confidence reading of 2011, home builders say they foresee no improvement in the immediate- or medium-term market for new homes nationwide.
In August, for the second straight month, the Housing Market Index read 15.
The HMI is a monthly housing survey, published by the...
Mortgage markets improved again last week. The combination of global economic uncertainty plus a dour outlook from the Federal Reserve pushed mortgage bonds to highs for 2011, and drove mortgage rates below their all-time lows.
Bonds were volatile, driven by the stock market’s gyrations.
On 4...
Foreclosure activity continues to slow.
According to RealtyTrac, a national foreclosure-tracking firm, the number of foreclosure filings nationwide fell 35 percent as compared to July 2010, a statistic suggesting that the housing market continues to improve.
“Foreclosure filing” is a...
