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Tag Archives: Investors

Consumer Confidence Staggers in October

The Conference Board's Consumer Confidence Index, conducted for the group by Nielsen, fell to 71.2 in October after a moderate decline to 80.2 in September. "Consumer confidence deteriorated considerably as the federal government shutdown and debt-ceiling crisis took a particularly large toll on consumers' expectations," said Lynn Franco, director of economic indicators for the Conference Board. Franco noted recent history shows similar declines in response to government battles.

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LPS Price Index Inches Up in August

Home prices continue to rise, albeit with some dampening due to seasonal impacts. However, prices are still appreciating faster than last year, according to Lender Processing Services' (LPS) Home Price Index report for August. LPS calculated a 0.4 percent monthly home price increase in August and a 9 percent annual rise. Both calculations are lower than the S&P Case-Shiller Home Price Indices, which calculated a 1.3 percent monthly increase and a 12.8 percent annual increase.

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FOMC Votes No Change in Asset Purchases

Fed

Analysts holding out for a sign that the Federal Reserve may soon taper its asset purchasing program will have to continue waiting. The Fed released on Wednesday the latest Federal Open Market Committee (FOMC) statement, revealing a generally cautious attitude as the economy struggles against headwinds. On the subject of housing, the FOMC noted growth has slowed in recent months; however, unlike the September statement, October's release does not cite rising mortgage rates as a concern.

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Mortgage Applications Leap as Government Crisis Ends

application

After staying mostly flat through mid-October, mortgage application volume jumped for the week ending October 25, the Mortgage Bankers Association (MBA) found in its Weekly Mortgage Applications Survey. MBA's Market Composite Index, a measure of loan application volume, increased 6.4 percent on a seasonally adjusted basis from the prior week. Having experienced a shaky summer, the Refinance Index bumped up 9 percent week-over-week.

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