Global financial markets had a stormy week – Greece, China, Puerto Rico, yowza! But Federal Reserve Chair Janet Yellen isn’t fazed. Today, she sent a strong signal that the central bank remains on track to raise interest rates later this year.
What, Me Worry? Yellen Not Backing Off Rate Hike this Year Read More »
Greece is running out of banknotes, China is throwing bundles of cash into its frenzied stock market, and Puerto Rico needs money to pay bills. When the global economy gets chaotic like this, the world’s wealth managers – pension funds, governments, and other big investors – look for a safe place to ride things out.
How empty ATMs in Greece Could Lower Mortgage Rates Read More »
Hold on to your tweedy cap. Despite decent jobs data last week, the U.S. economy faces headwinds. Americans are dropping out of the workforce and no one yet knows whether the Greek drama is a tragedy or comedy of errors. There’s China and Puerto Rico to contend with, too. In housing news this week, we get more jobs data, Janet Yellen speaks and Congress will give us a taste of their annual fall spending battle. D.C. gets its own beach for the summer and it might be the only shark-free zone in the city.
… and Here's The Week in Housing News Read More »
Employers added 223,000 jobs in June and unemployment fell. But as always, there’s more to the story. The number of Americans working or looking for work fell to its lowest in 37 years. Back then, a 30-year mortgage was 9 percent and rising fast. One month doesn’t make a trend, but 15 years does. That’s about how long people have been dropping out of the workforce.
Here's the Other Story in Today's Jobs Report: Americans Are Dropping Out Read More »
Several big Supreme Court decisions and a bushel of upbeat economic data had a lot of Americans partying over the weekend. While you nurse the hangover, here’s a rundown of what it all means. This week, economists expect more good news on home prices and job creation. On July 4th, my old neighbor Dave Grohl will come out of convalescence for an epic event in D.C. His boyhood home? A suburban, three-bedroom split level built in 1955.
… and Here's Your Housing News for June 29, 2015 Read More »
Janet Yellen used the word “gradual” seven times in a single hour last week, secret Fedspeak signalling that interest rates probably will rise… gradually. In other housing news, homes are selling at a record speeds and we saw more price frenzy in San Francisco. For Father’s Day, we learned how much Greek kids love Dad—and his basement. Mark your calendars for Thursday, when Redfin debuts an innovative index of homebuyer demand. Also on tap: Harvard releases its annual state-of-housing report and we get more sales data.
The Week in Housing News Read More »