(Darien condominiums) You must make sure that an unexpected ex….
You must make sure that an unexpected expense isn’t going to sink you.
Rise in Housing Starts Unlikely to Begin a New Trend
Brian Bethune, chief U.S. financial economist at Global Insight, said
the decline in single-family starts “certainly makes sense given the
level of inventory, but the other numbers are
puzzling.”
TD’s Millan Mulraine added that “it may be tempting
to conclude that the U.S. housing sector may have gained some positive
traction. However, because the boost has…
Core CPI Gives Fed Green Light to Cut, Economist Says
The lower-than-expected core CPI report released
Wednesday should allow the Fed to cut rates once again
rather than worry about rising inflation, an economist says. However, as
energy prices continue rising, there may be reason to put more emphasis
on total inflation rather than the core figure, says another
economist.
Consumer Sentiment Unaffected by Tax Rebates
The first monthly reading for consumer confidence in May failed to
show any improvement despite the beginning of the fiscal stimulus
tax rebates, economists say. The preliminary consumer sentiment
survey from Reuters and the University of Michigan tumbled beyond the
previous month’s 26-year low, falling to 59.5 from April’s 62.6.
Bernanke Urges Firms to Raise More Capital
Speaking at the Chicago Fed’s Conference on Bank Structure and
Competition, Fed Chairman Ben Bernanke said he would strongly
urge firms to continue raising new capital.
“Recent events have also demonstrated the importance of
generous capital cushions for protecting against adverse
conditions in financial and credit markets,” Bernanke said.
“I strongly urge financial institutions to remain
proactive in their capital-raising efforts…”
MBA Mortgage Applications Climbs 2.9%
Weekly mortgage applications in the United States
rose in the week ending May 9, according to data from the Mortgage
Bankers’ Association (MBA) on Wednesday, which said applications
increased by 2.9%.
In the previous week, applications rebounded 15.6%.
The portion of fixed-rate mortgages…
Industrial Production Consistent with Recessionary Levels, Economists Say
Weakness in U.S. industrial production is consistent with
recessionary levels, economists said following the 0.7%
decline in Thursday’s report from the Federal Reserve.
T.J. Marta,
fixed income strategist from RBC Capital Markets, said the “collapse”
resembles the turbulence seen during the 1990 recession,
the 2001 recession, Hurricane Katrina, and the start of the Iraq War.
Michael Montgomery, economist at Global Insight, said there
were…
Housing Starts Take a Small but Encouraging Jump in April
The rate of housing starts during April was 8.2
percent higher than in March. April’s rate was 1,032,000 and the revised
March estimate was 954,000. The April figure, however, is 30.6 percent
lower than the revised April 2007 rate of 1,487,000.
Home builders, however, continue to take a dim view
of the market according to…
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