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  • Effective Rate on New Home Loans Continues to Drop

    Interest rates on conventional mortgages for newly built homes fell again in August 2016 according to data released by the Federal Housing Finance Agency (FHFHA), extending the decline to 7 consecutive months. The FHFA data show that the average contract rate on the loans fell from 3.64% to 3.60%, while initial fees and charges went from 1.11% to 1.09%. As… Read More ›

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  • August Personal Consumption Softens while Income Rises

    Personal Consumption Expenditures (PCE) was effectively unchanged in August, standing at $11.5 billion, according to the most recent data release from the Bureau of Economic Analysis. Meanwhile, personal income rose by 0.2%, almost half of the gain in July.  The gain in personal income was the weakest since a drop in February, as wages, the largest component, only increased 0.1% after… Read More ›

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  • A Third Look at GDP Growth in the Second Quarter

    The Bureau of Economic Analysis (BEA) released the third estimate of real GDP growth for the second quarter of 2016. Real GDP grew at a 1.4% seasonally adjusted annual rate, up modestly from the 1.1% previous estimate. Personal consumption expenditures were slightly weaker, investment was less negative based on less drag from the energy sector and equipment spending, government spending… Read More ›

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