Mortgage rate decline pulls buyers back into the housing market

A sharp drop in mortgage interest rates in December may have kickstarted this year’s spring housing market early. Rates are about a full percentage point lower than they were in October, and consumers expect they will fall even more. Optimism about mortgage rates increased sharply in December, according to a monthly consumer survey by Fannie … Read more

The pound returns to decline today with mixed numbers for the British economy and a decline in bond yields

January 12, 2024 ( Newswire) Pound sterling recorded some declines today against the US dollar (GBP/USD), reaching about 0.1%, reaching the level of 1.27472 at approximately 10:00 am GMT. The pound’s declines today came after mixed UK GDP data in addition to the return of a sharp decline in bond yields Today we witnessed two … Read more

“the employment cost index: wages and salaries shows a decline since 4Q19”

I do not understand how one can write this sentence in 2023, and still be living on this planet. I retrieved data from FRED (ECIWAG), version posted on October 16, 2023. I plot: Figure 1: Employment cost index: wages and salaries: Private Industry Workers (ECIWAG), Dec. 2005=100 (blue), and ECI deflated by chained CPI (adjusted … Read more