Market Outlook

Federal Reserve policymakers held the federal funds rate at its current range of 2.25 to 2.50 percent. Analysts speculated that the Fed may lower its key rate based on signs of slowing economic growth and the President's encouragement to lower the Fed rate. Federal Open Market Committee members cited "uncertainties" in support of their decision not to change the Fed's key lending rate. A stiff month-to-month drop in jobs growth and worries over trade problems associated with recent tariffs assessed against China contributed to the Committee's decision to hold rates steady and closely watch domestic and global economic trends. Signs of slowing economic growth caused the Fed to adjust its forecast…

Homebuilder confidence dropped two points in June according to the National Association of Home Builders Housing Market Index. June's index reading was 64, which indicates strong sentiment among home builders for current housing market conditions. NAHB component readings also dropped in June with builder confidence in current home sales one point lower at an index reading of 71. Home builder confidence in home sales conditions over the next six months dropped two points to 70 and builder confidence in buyer traffic was one point lower at 48. Buyer traffic readings seldom exceed the NAHB benchmark reading of 50. Index readings over 50 indicate that most builders have positive sentiment toward conditions…

Market Outlook

Fed Holds Key Rate Steady As It Watches Economic Trends

NAHB: Builder Confidence Slips in June