Federal Reserve

Forecast Unchanged but Trade Tensions Flare and the Fed Tightens

WASHINGTON/ June 18, 2018 (STLRealEstate.News) — Despite a slowdown in the first quarter, economic growth is forecasted to pick up through the remainder of 2018, resulting in full-year real GDP growth of 2.7 percent, according to the Fannie Mae Economic and Strategic Research Group’s June 2018 Economic and Housing Outlook. This year’s growth projection, as … Continue reading Forecast Unchanged but Trade Tensions Flare and the Fed Tightens

Why many Americans aren’t benefiting from robust US economy

WASHINGTON/June 16, 2018 (AP)(STLRealEstate.News) — “The economy,” Federal Reserve Chairman Jerome Powell declared this week, “is doing very well.” And it is. Steady hiring has shrunk unemployment to 3.8 percent — the lowest since the 1960’s. Consumers are spending. Taxes are down. Inflation is tame. Factories are busy. Demand for homes is strong. Household wealth … Continue reading Why many Americans aren’t benefiting from robust US economy

US long-term mortgage rates jump; 30-year at 4.62 percent

WASHINGTON/June 14, 2018 (AP)(STLRealEstate.News) — Long-term U.S. mortgage rates jumped this week after two straight weeks of declines, reaching their second-highest level this year. Against a backdrop of rising interest rates in the economy, long-term loan rates have been running at their highest levels in seven years. And the Federal Reserve on Wednesday raised its … Continue reading US long-term mortgage rates jump; 30-year at 4.62 percent

WASHINGTON | US long-term mortgage rates jump; 30-year at 4.62 percent

WASHINGTON (AP) — Long-term U.S. mortgage rates jumped this week after two straight weeks of declines, reaching their second-highest level this year. Against a backdrop of rising interest rates in the economy, long-term loan rates have been running at their highest levels in seven years. And the Federal Reserve on Wednesday raised its benchmark interest … Continue reading WASHINGTON | US long-term mortgage rates jump; 30-year at 4.62 percent

WASHINGTON | Fed raises key rate and sees possible acceleration in hikes

WASHINGTON (AP) — The Federal Reserve took note of a resilient U.S. economy Wednesday by raising its benchmark interest rate for the second time this year and signaling that it may step up its pace of rate increases. The Fed now foresees four rate hikes this year, up from the three it had previously forecast. … Continue reading WASHINGTON | Fed raises key rate and sees possible acceleration in hikes

The Latest: Shares in homebuilders fall ahead of Fed meeting

WASHINGTON/ June 13, 2018 (AP)(STLRealEstate.News) — The Latest on the Federal Reserve policy meeting (all times local): 12:30 p.m. Homebuilders are taking a beating on Wall Street ahead of Wednesday afternoon’s Federal Reserve meeting, where analysts are expecting a rate increase. The Fed’s rate hikes can translate into higher interest rates for credit card holders … Continue reading The Latest: Shares in homebuilders fall ahead of Fed meeting

WASHINGTON | Home equity boosts US household wealth 1 pct. to $100.8T

WASHINGTON (AP) — Increased home prices boosted U.S. household net worth 1 percent in the January-March quarter to crack $100 trillion for the first time. The Federal Reserve says total home values rose $500 billion, offsetting a decline in stock portfolios of $400 billion. Household wealth rose to $100.8 trillion from $99.7 trillion in last … Continue reading WASHINGTON | Home equity boosts US household wealth 1 pct. to $100.8T

WASHINGTON | Banks would be freer to trade for profit under Fed proposal

WASHINGTON (AP) — The largest U.S. banks would have leeway to take riskier trading bets for their own profit under proposed changes the Federal Reserve unveiled Wednesday. The changes would loosen rules that since the 2008 financial meltdown have barred big banks from using depositors’ money to make sizable bets on stocks and bonds. The … Continue reading WASHINGTON | Banks would be freer to trade for profit under Fed proposal