Stock

FOMC Projections and Press Conference

Statement here. Fed Chair Powell press conference video here starting at 2:30 PM ET. On the projections, growth was revised up slightly, and other projections were mostly unchanged. Q1 real GDP growth was at 3.1% annualized, and Q2 at 2.0%.   Currently most analysts are projecting around 1.5% to 2% in Q3. So the GDP […]

Stock

FOMC Statement: 25bp Decrease

FOMC Statement: Information received since the Federal Open Market Committee met in July indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained low. Although household spending has been rising at […]

Stock

Comments on August Housing Starts

Earlier: Housing Starts increase to 1.364 Million Annual Rate in August, Highest in 12 Years Total housing starts in August were above expectations, and starts for June and July were revised up combined.  This was the highest level of starts in 12 years. The housing starts report showed starts were up 12.3% in August compared […]

Stock

Housing Starts increase to 1.364 Million Annual Rate in August, Highest in 12 Years

From the Census Bureau: Permits, Starts and Completions Housing Starts:Privately‐owned housing starts in August were at a seasonally adjusted annual rate of 1,364,000. This is 12.3 percent above the revised July estimate of 1,215,000 and is 6.6 percent above the August 2018 rate of 1,279,000. Single‐family housing starts in August were at a rate of […]

Stock

MBA: Mortgage Applications “Flat” in Latest Weekly Survey

From the MBA: Mortgage Applications Flat in Latest MBA Weekly Survey Mortgage applications decreased 0.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 13, 2019. Last week’s results included an adjustment for the Labor Day holiday. … The Refinance Index […]

Real Estate

What Buyers Need to Know About HOAs

When searching for a home, you may end up selecting a property in a community with a Homeowners Association (HOA). Before you buy, it’s important to know how an HOA works and what they mean for you. According to a recent article on realtor.com, “In a nutshell, an HOA helps ensure that your community looks […]

Tax

Labour’s Brexit plan: stuck in the middle

Rather bizarrely, it appears that Labour pay has found a workable Brexit proposition to put to voters, more by default than by judgement. With the Tories and Brexit Party both, very obviously, seeking hard Brexit, and with the LibDems seeking to withdraw Article 50, and remain come what may, Labour’s position has, by default, been […]

Stock

Where is U.S. economy headed?

Signs of easing U.S.-China tensions have helped calm recessionary fears that gripped markets in recent weeks. We see little risk of an imminent recession, as ongoing policy support, the absence of obvious financial system vulnerabilities and resilient consumer spending helping extend the U.S. economic expansion. Yet a comprehensive U.S.-China trade deal is unlikely in the […]