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Home >> News >> Government

GDP Growth Slows in Q3, Still Tops Forecasts

GDP Growth Slows in Q3, Still Tops Forecasts

Gross domestic product (GDP) in the United States increased at an annualized rate of 3.5 percent last quarter, according to an advance estimate from the Bureau of Economic Analysis (BEA). Economists surveyed by Econoday anticipated a growth rate of 3.0 percent. The GDP report comes a day after the Federal Reserve announced plans to close down its stimulative bond-buying program, signaling increased confidence in the economy's progression.

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Fed: QE3 Asset Purchase Program to End In October

Fed: QE3 Asset Purchase Program to End In October

With the substantial improvement in the outlook for the labor market, as judged by the Committee, since the inception of the QE3 asset purchase program two years ago and the broader economy's underlying strength to support ongoing progress toward maximum employment in a price stability context, the Committee decided to conclude the QE3 program this month.

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Housing Industry Collaborates to Create CFPB Complaint Tracking Report

Housing Industry Collaborates to Create CFPB Complaint Tracking Report

The CFPB Complaint Tracking Report, produced by Black Knight, will incorporate data contributed by both servicers and CFPB. Dori Daganhardt, VP of product marketing and market strategy at Black Knight, said she expects the report to help level the playing field in terms of transparency and education. She said the servicers and regulators will work together to determine the level of granularity contained in the report.

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U.S. Homeownership Sinks to 64.4%

U.S. Homeownership Sinks to 64.4%

According to a report from the U.S. Census Bureau, the homeownership rate last quarter fell to 64.4 percent, down 0.3 percentage points from Q2 and nearly a full percentage point from the same quarter last year. The last time homeownership in the country was this low was in the first quarter of 1995.

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Regulators Close Down Illinois Bank

Regulators Close Down Illinois Bank

Only a week after the latest collapse, federal regulators announced the closure of yet another government-insured bank, bringing the year-to-date tally to 16. The Office of the Comptroller of the Currency (OCC) announced Friday the shuttering of the National Republic Bank of Chicago, appointing FDIC as receiver.

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New Home Sales Up After Major August Revision

New Home Sales Up After Major August Revision

The Commerce Department and HUD estimate that new home sales were at a seasonally adjusted annual pace of 467,000 in September, according to a joint report from the agencies. September's sales rate marks a 0.2 percent increase over August's revised rate and a 17 percent jump above September 2013. New home sales in August, originally reported at an annual pace of 504,000, came down dramatically in the government's revised estimate.

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Fed, SEC Approve Finalized QRM Rule

Fed, SEC Approve Finalized QRM Rule

The residential mortgage loan risk retention rule, known as the "qualified residential mortgage" (QRM) rule, was approved on Wednesday by the U.S. Federal Reserve Board and the Securities and Exchange Commission (SEC). The agencies are the last of the six groups charged with putting together the finalized rule.

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FHFA Home Price Index Up 0.5% in August

FHFA Home Price Index Up 0.5% in August

The Federal Housing Finance Agency (FHFA) reported Thursday that U.S. house prices rose a seasonally adjusted 0.5 percent month-over-month in August. On a year-over-year basis, FHFA's price index was up 4.8 percent, putting it roughly in line with its August 2005 level and 5.8 percent below its peak in April 2007.

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