Business Paper Economy

  • Home prices slump nationwide in November

    Home prices on the S&P Case Shiller home price indices declined from October ,with prices falling 0.26% while the Composite-20 index declined 0.22% over the same period. 

  • US retail sales tick up in June

    US retail sales rose 0.2 in June from May and are up 4.3 percent since last year, according tot he US Census Bureau. Sales of nominal 'discretionary items' such as home furnishings and consumers fell from May's levels but are higher compared to last year. 

  • Home builder sentiment falls, but optimism still strong

    Home builder sentiment went flat in January, with the composite HMI index remaining at 57 while the "buyer traffic" index declined to a level of 44 from 46 in the prior month.

  • Mortgage rates fall to 3.94 percent as applications swoon

    The average rate for a 30 year fixed rate mortgage decreased 4 basis points to 3.94 percent since last week while the purchase application volume declined 5 percent and the refinance application volume declined 12 percent over the same period. 

  • Mortgage rates dip to a 16-month low (+video)

    Mortgage rates for a 30-year fixed rate loan fell to 4.08 percent since last week, the lowest in nearly a year and a half. In addition to falling mortgage rates, the the purchase application volume decreased 1 percent and the refinance application volume increased 11 percent over the same period.

  • Construction spending slumps in June

    Construction spending in the US declined in June, according to the US Census Bureau. Total residential spending declined 0.3 percent from May, although construction spending is 7.4 percent higher in June compared to last year. 

  • Total unemployment in July rose to 12.2 percent

    US total unemployment increased to 12.2 percent in July, according to Bureau of Labor Statistics. The traditionally-reported unemployment rate also rose to 6.2 percent.

  • Pending home sales dip with supply shortages, flat wages

    Pending home sales in the US declined 1.1 percent in June, according to the National Association of Realtors. There are conditions that deter potential buyers, such as a shortage of homes in parts of the country.

  • US new home sales drop in June

    New home sales in the US fell 8.1 percent in June, signaling that real estate is still a weak spot in the US economy. June US new home sales are also 11.5 percent below June 2013 levels.

January 29, 2015

Photos of the day 01/29

Snow falls on a flock of flamingos at a wildlife zoo in Hefei, Anhui province, China, Thursday.

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