Economy in Brief: October 2012

The U.S. House Price Index from the Federal Housing and Finance Agency (FHFA) gained 0.6% during August following an unrevised 0.2% July increase. The rise lifted the y/y advance to 4.7%, its strongest since 2006. That followed four [...]

As expected, the Federal Open Market Committee today left the Federal funds rate in a "range from 0 to 1/4 percent." The Fed funds rate has remained unchanged since late-2008 at its lowest level ever. The discount rate also was left [...]

The Mortgage Bankers Association index of total mortgage applications fell 12.0% last week (+27.8% y/y), down for the third straight week. The decline was led by a 12.9% drop (+34.0% y/y) in applications to refinance an existing loan. [...]

The new home sales market reached a two year high last month. New home sales in September rose 5.7% to 389,000 (SAAR) from 368,000 during August, revised from 373,000. The gain beat Consensus expectations for 382,000 sales. The latest [...]

The U.S. House Price Index from the Federal Housing and Finance Agency (FHFA) gained 0.6% during August following an unrevised 0.2% July increase. The rise lifted the y/y increase to 4.7%, was its strongest since 2006 and followed [...]

The U.S. House Price Index from the Federal Housing and Finance Agency (FHFA) gained 0.6% during August following an unrevised 0.2% July increase. The rise lifted the y/y advance to 4.7%, its strongest since 2006. That followed four [...]

Fewer payrolls were cut back last month. The Labor Department reported that layoffs of 50 or more persons from a single firm fell to 811, the lowest level since September 2007; down nearly by one-third y/y. However, this decline was [...]

Perhaps it's all seasonal, but there's been pressure on consumer spending. Since their peak in mid-July, chain store sales have fallen 5.0%, leaving the y/y gain at 2.9%. Chain store sales fell 0.7% last week and the October average [...]