Initial jobless claims dropped by 5,000 last week to 238,000 yet remained elevated near a 10-month high as housing starts fell in May to the lowest level since June 2020 … READ MORE >
Real estate
U.S. new home sales miss forecasts amid rising mortgage rates
New home sales fell below estimates in April as mortgage rates surged to above 7%, the Census Bureau reported on Thursday. … READ MORE >
Soft housing and manufacturing data fuels prospect of rate cut
Economic data on housing, manufacturing and jobs released on Thursday pointed to softer-than-expected economic activity in the second quarter. … READ MORE >
Senior Loan Officer Survey: Progress halts as inflation rebounds in Q1
Progress toward normalized lending practices generally halted in the first quarter as the Federal Reserve turned more hawkish amid the rebound in inflation, according to data in a Fed report announced on Monday. … READ MORE >
Existing home sales plunge amid stable jobless claims
March proved challenging for the housing market, as sales of existing homes plummeted by 4.3%, marking the steepest drop since November 2022. … READ MORE >
Industrial production rebounds as housing starts plunge
Housing starts dropped by 14.7% to 1.32 million on an annualized rate, the lowest level since last August. … READ MORE >
Existing home sales exceed forecasts as prices jump
There were 4.38 million existing homes sold in February, up by 9.5% from a month ago, the National Association of Realtors reported on Thursday. … READ MORE >
Housing starts and permits beat forecasts as completions reach 17-year high
Housing starts rose by 10.7% in February, while permits increased by 1.9%, according to data released by the Commerce Department on Tuesday. … READ MORE >
New home sales grew more slowly in January amid elevated mortgage rates
Sales of new homes grew 1.5% in January, much slower than the 7.2% increase in December, most likely because of elevated mortgage rates. … READ MORE >
Canada’s inflation excluding shelter hit target in January
Canada’s consumer price index dropped to 2.9% in January, led by lower year-over-year figures in gasoline prices. On a monthly basis, prices stayed flat. … READ MORE >