Economic Updates Archive

Third Quarter GDP: Production Boom, but Uneven Growth

There has been a boom in total production in the U.S. as the third quarter GDP grew at a 3.9 percent annualized rate.  This growth is on top of the 4.6 percent expansion in the second quarter.  Such a...

The Ease of Selling a Million Dollar Home

It has become easier to sell high-end expensive homes.  The strongest growth in home sales in the latest data occurred at the very top of the price category. In October, home sales increased 16.2 percent from one year ago...

The Latest on Consumer Inflation

Lower gasoline prices are contributing to low overall consumer price inflation.  Low inflation in turn means interest rates can continue to remain at rock bottom rates.  However, one weighty component in consumer prices shows an accelerating trend:  namely, rents...

Mortgage Purchase Applications: Improvements

Seasonally adjusted applications to purchase homes jumped 11.7% for the week ending November 14th, a solid improvement in a series of gains following a weak trend in late October.  The purchase applications index is 6.1% lower than the same...

Mortgage Performance of Veteran Loans

Mortgages backed by the Veterans Affairs have generally performed better than other mortgage products, even though VA loans require no down payment. In the most recent quarter, the percentage of mortgages going into foreclosure for VA loans was 0.3...