Some of Wall Street’s biggest bond-fund managers say financial markets are underestimating the risk that the US war in Iran will cause a sharp slowdown in an already sputtering economy. Processing Content As oil pushes over $116 a barrel and the conflict shows little signs of ending, traders have largely focused on the inflation shock. […]
JPMorgan, Pimco say bond market is misjudging slowdown risk Read More »
US household wealth rose in the fourth quarter to a fresh record as the stock market continued to rally as the year drew to a close. Processing Content Household net worth climbed $2.2 trillion from the prior quarter to $184.1 trillion, a Federal Reserve report showed Thursday. The value of Americans’ equity holdings increased $1.6
US household net worth climbs $2.2 trillion to fresh record Read More »
Early market reactions to the U.S.-Israel-Iran conflict suggest inflation fears, not flight-to-safety buying, are dominating Treasury yields, a dynamic that could put upward pressure on mortgage rates. Processing Content Resolving the conflict swiftly and handling it in such a way that it increases security in the region could have some positive ramifications for housing, but
Middle East conflict stokes inflation, risks higher rates Read More »
The Federal Open Market Committee’s initial take on the economy in 2026 may temper NMN-surveyed mortgage professionals’ view that rates will fall fast and far enough to generate significant revenue gains this year. Processing Content Monetary policymakers weighed the balance of risks associated with a softer market vs. inflation in their widely anticipated decision to
What the Fed’s first look in 2026 means for mortgages Read More »
US job growth remained sluggish in November and the unemployment rate rose to a four-year high, pointing to a continued cooling in the labor market after a weak October. Processing Content Nonfarm payrolls increased 64,000 in November after declining 105,000 in October, according to Bureau of Labor Statistics data out Tuesday. The unemployment rate was
US payrolls rise 64,000 after October drop, unemployment up Read More »
US consumer spending stalled in September, suggesting Americans were already stretched going into the government shutdown in the face of stubborn inflation. Consumer spending, adjusted for changes in prices, was little changed in September, according to Bureau of Economic Analysis data out Friday. That followed a downwardly revised 0.2% advance in August. The report was
Consumer spending stalled in September, inflation in line Read More »
Home Depot Inc. cut its full-year earnings guidance, warning that some unsteady consumers are hitting the pause button on big-ticket home purchases. The world’s largest home-improvement retailer said it expects adjusted earnings per share to decline 5% from a year ago, lower than its previous forecast. The company said its profit and comparable sales came
Home Depot cuts forecast on weak demand for big-ticket items Read More »
After the Federal Open Markets Committee reduced short-term rates by 25 basis points at each of its two most recent meetings, economists are mixed on whether the December meeting will have a third cut, the November Wolters Kluwer Blue Chip Economic Indicators study found. The survey was taken on Nov. 4 and 5, prior to
December Fed rate cut still on the table for most economists Read More »
New-home sales in the U.S. unexpectedly surged in August to the fastest pace since early 2022, likely lifted by builders’ rampant price cuts and sales incentives to motivate buyers in a jittery economy. Sales of new single-family homes increased 20.5% to a 800,000 annualized rate in a broad advance, according to a government report issued
New-home sales unexpectedly jump over 20% in broad advance Read More »
Housing finance firms have been adding staff as falling mortgage rates look more likely, with stronger overall job growth raising the chances of modest business gains for the industry. “This is likely to support some additional decline in rates, which will offer opportunities at the margin for people to buy,” said Doug Duncan, former chief
Mortgage firms add staff as rate cuts look likely Read More »