Jobless Claims

Last week’s economic reporting included readings from S&P Case-Shiller Home Price Indices, the Federal Housing Finance Agency House Price Index, and the Commerce Department on sales of new homes. Weekly readings on mortgage rates and jobless claims were also reported. S&P Case-Shiller, FHFA Report Near-Record Home Price Growth February home prices continued their rapid growth, but analysts hinted at a coming slowdown in-home price growth as would-be buyers were faced with rising mortgage rates and affordability concerns. S&P Case-Shiller’s National Home Price Index reported year-over-year home price growth of 19.80 percent as compared to January’s national home price growth rate of 19.10 percent. The 20-City Home Price Index reported the top three…

Last week’s economic reporting included readings on monthly and year-over-year inflation and the preliminary reading on consumer sentiment from the University of Michigan. Weekly readings on mortgage rates and jobless claims were also released. Gas Prices Drive High Inflation in March Consumers felt near-record pain at the pump in March as gas prices continued to rise. Month-to-month inflation increased by 1.20 percent in March as compared to February’s month-to-month inflation rate of 0.80 percent. Analysts expected inflation to rise by 1.10 percent in March. The extent of rapidly rising gasoline prices on inflation is evident when comparing readings for the Consumer Price Index and the Core Consumer Price Index, which excludes…

Last week’s economic news included remarks given by Federal Reserve Board Governor Lael Brainard and the release of the minutes of the most recent meeting of the Fed’s Federal Open Market Committee. Weekly readings on mortgage rates and jobless claims were also released. Federal Reserve Leaders Prepared to Address Inflation Lael Brainard, a Governor of the Federal Reserve Board, addressed the central bank’s concerns over rapidly rising inflation in her remarks made at a financial conference in Minneapolis, Minnesota. “Currently, inflation is much too high and is subject to upside risks. It is of paramount importance to get inflation down” Ms. Brainard concluded. “The Fed is prepared to take further action…

Last week’s financial and economic reporting included readings from S&P Case-Shiller Home Price Indices, the  Federal Housing Finance Agency and the federal government reported on construction spending. Reports on public and private-sector jobs growth and the national unemployment rate were also published along with weekly readings on mortgage rates and jobless claims. S&P Case-Shiller: Home Price Growth Expected to Slow in 2022 National home prices grew by 19.20 percent year-over-year in January as compared to December’s year-over-year pace of 18.90 percent according to the monthly S&P Case-Shiller National Home Price Index. The 20-City Home Price Index revealed no change in the metro areas holding the top three spots for home price…

Last week’s economic reporting included a speech and press conference by Federal Reserve chair Jerome Powell, data on pending home sales and sales of new homes, and the University of Michigan’s monthly reading on consumer sentiment. Weekly readings on mortgage rates and jobless claims were also published. Fed Chair: Rate Hikes Above 0.25 Percent May be Needed to Ease Inflation Federal Reserve chair Jerome Powell said that the Fed is willing to move beyond its recent 0.25 percent rate hike to control inflation.  In a speech made to the National Business Association for Business Economics, Mr.Powell said, “We will take necessary steps to ensure a return to price stability. In particular,…