The U.S. economy grew at a 2.5 percent annual rate in the second quarter, faster than initially estimated, as American companies exported more and consumers bought fewer imports than the government had calculated last month. The number was revised up from the government’s initial announcement that the economy had grown at a 1.7 percent annual…
More jobs and easier loan terms will boost demand for new mortgages in the second half of this year as homebuyers shrug off higher interest rates, according to a Fannie Mae forecast. Lending for mortgages to purchase homes will increase 21 percent for the final six months of 2013 to $341 billion from $282 billion…
The Federal Reserve said Wednesday it will leave interest rates unchanged and continue to buy $85 billion in bonds every month while the economy continues to improve at a “modest” pace. The Fed will only begin pulling back on its stimulus program if the data points continue to improve. Stocks are off the highs of…
Mortgage rates may be inching up, but they have not put a damper on the American housing market’s rebound. Housing Numbers Reassure Investors (June 26, 2013) The Standard & Poor’s Case-Shiller home price index on Tuesday showed a 12 percent increase in prices in 20 cities from April 2012 to April 2013, the largest gain…
Jon Hilsenrath explains how Wall Street is watching the Federal Reserve with wary eyes as it feels the Fed has overestimated economic growth which could result in the tapering of its bond-buying program.