Monthly Archives: July 2023

“The Housing Recession Is Over!”

The Mortgage Corner One should maybe forgive National Association of Realtor’s chief economist Lawrence Yun’s enthusiasm when he exclaimed “the housing recession is over,” because the NAR’s Pending Home Sales rose for the first time in four months. And this … Continue reading

Posted in Consumers, COVID-19, Economy, housing market, Weekly Financial News | Leave a comment

It’s Consumer Spending, Stupid! – Part II

Financial FAQs BEA.gov The US economy continues to expand in all sectors—with consumers as well as in manufacturing. But it was consumers that provided most of the 2.4 percent increase in Gross Domestic Product (GDP) in the ‘advance’ (first of … Continue reading

Posted in Consumers, COVID-19, Economy, Weekly Financial News | Leave a comment

What Is Bidenomics?

The Mortgage Corner The best way to describe ‘Bidenomics’ now being touted by a growing consensus of economists is best explained in the recent resurgence of construction spending, as portrayed in the FRED graph. FREDconstructionspend Nobel Laureate Paul Krugman, among … Continue reading

Posted in Consumers, COVID-19, Economy, Weekly Financial News | Leave a comment

There’s a Housing Shortage

The Mortgage Corner We know the spring buying season barely got off the ground because of elevated mortgage rates, I said last week. Another reason was elevated prices, due to the housing shortage. And builders aren’t keeping up with homebuyers’ … Continue reading

Posted in Consumers, COVID-19, Economy, Housing, housing market, Weekly Financial News | Leave a comment

“It’s Consumer Spending, Stupid!”

Financial FAQs FREDretailsales Consumer spending has markedly slowed due to higher interest rates and depleted savings, but it is growing enough to maintain economic growth. This was confirmed by Tuesday morning’s retail sales report. “June retail trade sales were up 0.2 … Continue reading

Posted in Consumers, COVID-19, Economy, Macro Economics, Weekly Financial News | Leave a comment

What Happened to Inflation?

Popular Economics Weekly FREDppifinaldemand What happened to the inflation problem? The latest wholesale inflation data show the Fed has more than succeeded in its campaign to tame inflation. The wholesale Producer Price Index (PPI) for final demand in wholesale goods … Continue reading

Posted in Consumers, COVID-19, Economy, Uncategorized, Weekly Financial News | Leave a comment

Homebuying Season Continues

The Mortgage Corner We know the spring buying season barely got off the ground because of elevated mortgage rates. But there are enough homes for sale to continue purchases into the summer. An analysis by Redfin, the national real estate … Continue reading

Posted in Consumers, COVID-19, Economy, Housing, housing market, Weekly Financial News | Leave a comment

Americans Still Fully Employed

Popular Economics Weekly MarketWatch.com Hiring has been slowing in some business sectors, but government, education & health, and construction kept the BLS unemployment rate at a historic low of 3.6 percent per the MarketWatch graph. American governments and the construction … Continue reading

Posted in Consumers, COVID-19, Economy, Weekly Financial News | Leave a comment

Consumer Splurge Continues

Financial FAQs BEA.gov Consumers continue to spend, and what can the Fed do about it? This will be debated by market analysts ad nauseum until the next Federal Reserve FOMC meeting in July. And then Chairman Powell, et. al., will … Continue reading

Posted in Consumers, COVID-19, Economy, Weekly Financial News | Leave a comment