Looking forward into this week, April 20th, 2020. Once again, weekly Initial Jobless Claims will be the key report to watch when it releases Thursday. If we see another week of 5 million Initial Jobless Claims filed, we will be at or near 20% unemployment. More housing news also follows, when Existing and New Home […]
The NAHB Housing Market Index, which is a real-time read on builder confidence, dropped a whopping 42 points to 30 in April. This was well below the shot in the dark estimate of 55 and the largest one-month drop ever! Note that a reading of 50 is the baseline, with a number above it signaling […]
You may be considering taking advantage of these historic low interest rates by refinancing your mortgage to lower your monthly payment, consolidate debt, save years of payments, or pull cash out for a cushion. The Mortgage Industry is doing an excellent job of processing transactions under shelter in place. But it’s more important than ever […]
If your grill has sat idle all winter, get it ready for the warmer weather with these cleaning guidelines from our friends at Taste of Home. First, give your grill a once over. Check for rust as well as any bugs that may have nested during winter. Inspect hoses and replace any that have cracked […]
In Review: Week of April 13th, 2020. The continuing impact of the COVID-19 pandemic was evident across a wide-range of the U.S. economy in the latest week, as data for a variety of sectors was released. Like the previous three weeks, Initial Jobless Claims once again climbed into the millions, as 5.25 million people filed […]
CoreLogic released their home price index, which is an important appreciation report. The data showed that home prices rose 0.6% in February and 4.1% annually, which was an increase from 4% in the prior report. The cities with the highest annual basis increases were Washington DC (4.8%), Boston (4.5%) and Los Angeles (4.3%). While this […]
As expected, inflation decreased in March due to the lack of pricing pressure. On the wholesale level, the Producer Price Index declined by 0.2% while Core PPI, which excludes volatile food and energy prices, also fell 0.2%. At the consumer level, the Consumer Price Index (CPI) dropped by 0.4%, which was more than the expected […]
The latest Initial Jobless Claims report showed that 6.6 million people filed claims during the week ending April 4. This is just below the 6.8 million recorded for the week ending March 28, which was actually revised higher by just over 200,000 claims. It is possible claims for the week ending April 4 could also […]
Housing data that was reported last week still reflects a pre-virus environment. The Case-Shiller Home Price Index is considered the gold standard for home appreciation and features several important indexes, including the National Index which covers all nine U.S. Census divisions and reported a 3.9% annual gain in January. This was an increase from 3.7% […]
The ADP Employment Report showed that there were 27,000 job losses in the month of March. Believe it or not, this was stronger than expectations, which were calling for 125,000 to 170,000 job losses. Unfortunately, this number will only get worse, as the figures were derived on the 12th of March or earlier, so the […]
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