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  • Federal Open Market Committee July Meeting – Afternoon Tea

    At 2:00 pm today the Federal Reserve’s monetary policy setting committee, the Federal Open Market Committee (FOMC), concluded its July meeting and released the standard post-meeting statement. Let the reading of the tea leaves begin. Analysts’ expectations for the meeting were for no major changes and the FOMC delivered: marginal changes in the assessment of economic conditions (more later), no… Read More ›

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  • Pending Sales – Another Bump in the Ride Up

    The Pending Home Sales Index declined in June after reaching the highest level in over nine years in May. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), decreased 1.8% in June, but is up 8.2% from the same month a year ago, and has increased year-over-year for… Read More ›

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  • Homeownership Falls, Household Formations Rise

    According to the Census Bureau’s Housing Vacancy Survey (HVS), the nation’s homeownership rate in the second quarter of 2015 fell to a post-1967 low point of 63.4%. The homeownership rate decreased by 130 basis points on a nonseasonally adjusted basis from the second quarter of 2014 to the second quarter of 2015. Compared to the peak at the end of… Read More ›

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