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☆ Premarket stocks: January’s turnaround could be a good omen for the year
▼ + stars: | 2024-01-22 | by ( Krystal Hur | ) edition.cnn.com time to read: +8 min

New York (CNN) — US stocks rallied powerfully last week after a topsy-turvy start to the month. History indicates that if the market can cling to those gains, that could bode well for the rest of the year. But last week, all three major indexes turned positive for the year as tech stocks led the broader market higher. The January barometer, introduced in the Stock Trader’s Almanac, states that however stocks perform during January, their year-end performance will follow suit. That is good news for the 85 million homeowning households that enjoyed further gains in housing wealth, said Lawrence Yun, chief economist at NAR.

Persons: turvy, bode, Bell, Anna Rathbun, we’re, it’s, we’ve, Bryan Mena, ” Joanne Hsu, Anna Bahney, Lawrence Yun, Read Organizations: CNN Business, Bell, CNN, Dow Jones, Nasdaq, CBIZ Investment Advisory Services, The University of Michigan’s, National Association of Realtors Locations: New York

☆ Markets tried to fight the Fed on rate cuts. It didn’t work
▼ + stars: | 2024-01-21 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Now there’s roughly a 50/50 chance that the Fed could either cut rates or hold them steady in March, according to futures. A few developments this past week tempered investors’ optimism, and now the possibility of a rate cut in March could be completely thrown out the window, according to economists. He echoed other Fed officials who’ve recently said that beginning to cut rates in March is just not realistic. In addition to officials’ comments, recent economic data also doesn’t bode well for a March rate cut. Markets are expecting twice as many rate cuts this year than what Fed officials themselves estimated in their latest economic projections released in December.

Persons: ’, Christopher Waller, ”, who’ve, Loretta Mester, “, Mary Daly, it’s, Daly, bode, Waller, ” Bill Adams, ” Daniel Altman, Jerome Powell’s, Donald Trump, Christine Lagarde, couldn’t, Jamie Dimon, Trump, Joe Biden, Bank of America’s Brian Moynihan, OpenAI’s Sam Altman, Johnson, Lockheed Martin, Levi Strauss, Booz Allen Hamilton, CNN’s Elisabeth Buchwald Organizations: CNN Business, Bell, DC CNN — Federal Reserve, Fed, Brookings Institution, ” Cleveland Fed, Bloomberg, ” San Francisco Fed, Fox Business, Commerce Department, Labor Department, Employers, Comerica Bank, CNN, Biden, Trump, Economic, European Central Bank, ”, JPMorgan, Bank of America’s, United Airlines, The Bank of Japan, Netflix, General Electric, Procter, Gamble, Johnson, Verizon, Lockheed, Haliburton, Tesla, IBM, Bank of Canada, Global, American Airlines, Southwest Airlines, Alaska Airlines, Co, Visa, Intel, Mobile, Comcast, Capital, US Commerce Department, Chicago Fed, US Labor Department, American Express, Colgate, Palmolive, Booz, National Association of Realtors Locations: Washington, ” San, East, Iran, Davos, Switzerland, Iowa, Swiss, United States

☆ Home sales in 2023 were the lowest in nearly 30 years, but prices still hit a record
▼ + stars: | 2024-01-19 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —The residential real estate market tumbled in 2023, as soaring interest rates steadily slowed sales activity — but home prices still hit a record high. Even with all the disruptions of the onset of the pandemic, sales in 2020 ended at about 5.5 million. The next year, sales soared to over 6 million amid the frenzied market as mortgage rates sank in 2021. As mortgage rates hit 7.79% in October 2023, the highest in 23 years, sales sank again, to about 4 million. If there had been more listings on the market in 2023, we would have had more home sales.”

Persons: Lawrence Yun, ”, Yun, Lisa Sturtevant Organizations: DC CNN, National Association of Realtors, “, ”, Federal Reserve Locations: Washington, homeownership, —

☆ The housing market in 2023 saw its worst year of sales in 29 years
▼ + stars: | 2024-01-19 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Read previewThe housing market is coming off its weakest year of home sales since 1995, according to data out Friday from the National Association of Realtors. For the full 12 months, total existing home sales hit 4.09 million units, and sales were lower across all regions in the US year-over-year. Related stories"The latest month's sales look to be the bottom before inevitably turning higher in the new year," NAR economist Lawrence Yun said. AdvertisementTotal existing home sales, year-over-year. "Despite sluggish home sales, 85 million homeowning households enjoyed further gains in housing wealth," Yun said.

Persons: —, Lawrence Yun, Freddie Mac, Yun Organizations: Service, National Association of Realtors, Business, NAR Locations: homeownership

“Consumer views were supported by confidence that inflation has turned a corner and strengthening income expectations,” Hsu added. “Like December, there was a broad consensus of improved sentiment across age, income, education, and geography,” Hsu said. There may, however, be some relief in 2024 as mortgage rates fall in line with reduced interest rates from the Federal Reserve. “Mortgage rates will continue to remain a wild card for home shoppers,” said Danielle Hale, chief economist at Realtor.com. "Mortgage rates are meaningfully lower compared to just two months ago, and more inventory is expected to appear on the market in upcoming months."

Persons: Joanne Hsu, ” Hsu, ”, Danielle Hale, Lawrence Yun Organizations: University of Michigan, Republicans, Federal Reserve, National Association of Realtors, “, Realtor.com, National Association of Home Builders, Federal Reserve Bank of New, Federal Reserve Bank, Atlanta’s Locations: “, Federal Reserve Bank of New York

☆ December home sales slump to close out worst year since 1995
▼ + stars: | 2024-01-19 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

Sales were 6.2% lower than in December 2022, marking the lowest level since August 2010. Full-year sales for 2023 came in at 4.09 million units, the lowest tally since 1995. Regionally, on a month-to-month basis, sales were unchanged in the Northeast and fell 4.3% in the Midwest. There were 1 million homes for sale at the end of December, making for a 3.2-month supply at the current sales pace. Individual investors, who make up a large share of all-cash sales, bought 16% of homes, down from 18% in November.

Persons: Lawrence Yun, Danielle Hale Organizations: National Association of Realtors, Midwest ., Mortgage News, Homes Locations: Northeast, West

The National Association of Realtors said Friday that existing U.S. home sales totaled 4.09 million last year, an 18.7% decline from 2022. Despite easing mortgage rates, existing home sales fell 1% in December from the previous month to a seasonally adjusted annual rate of 3.78 million, the slowest sales pace since August 2010, the NAR said. Last month's sales pace is short of the roughly 3.83 million that economists were expecting, according to FactSet. “The latest month’s sales look to be the bottom before inevitably turning higher in the new year,” said Lawrence Yun, the NAR's chief economist. The national median home sales price rose 4.4% in December from a year earlier to $382,600, the NAR said.

Persons: Freddie Mac, ”, Lawrence Yun Organizations: ANGELES, The National Association of Realtors, NAR, Federal Reserve, Treasury Locations: U.S

☆ As a young person, how do you feel about the US housing market and your plans for the future?
▼ + stars: | 2024-01-18 | by ( Bryan Mena | ) edition.cnn.com time to read: +1 min

Washington, DC CNN —Americans are living through one of the toughest housing markets in recent memory. Home prices are rising faster than wages, mortgage rates are still hovering near 23-year highs and many Boomers across the country are refusing to sell their homes. The National Association of Realtors’ affordability index — which takes into account mortgage rates, family incomes and home prices — has been hovering near decades-lows. Homeownership is arguably a key part of the so-called American Dream, but for young people, it might be just that — a dream. We’d like to know how Americans younger than 31 are planning for their future given that it has become so unaffordable to own a home nowadays.

Organizations: DC CNN, Boomers, National Association of Realtors Locations: Washington

☆ I sold my house in Austin for full price in 2 months thanks to patience and some homework
▼ + stars: | 2024-01-18 | by ( Cork Gaines | ) www.businessinsider.com time to read: +8 min

Selling a house in this market can be tricky with high mortgage interest rates and steep prices. AdvertisementSelling a home for a good price in this housing market can be challenging but not impossible. What's more, mortgage interest rates remain high compared to several years ago but have dropped slightly recently. Buyers can still beat current interest ratesMeanwhile, some potential buyers are finding creative ways to avoid high interest rates and purchase homes. While nothing is guaranteed with interest rates, this is exactly what the Fed is projected to do, holding interest rates steady in the first part of 2024 before starting to lower rates later in the year.

Persons: —, Cork, there's, Gary Miller, Austin Organizations: Austin, Service, Cork Gaines, Brigade, National Association of Realtors Locations: Austin

☆ When the broker is a chatbot: How AI will shake up commercial real estate.
▼ + stars: | 2024-01-17 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +10 min

Brokers, Davies noted, normally "don't play with this" and the high-placed executive was "just really entertained." He believes AI assistants will become a common tool for salespeople and executives across real estate and the wider business world. Even boosters of the new tech's expanded role in the real-estate business acknowledge that chatbots could become viewed as a nuisance, a gimmick, or worse. "This is and always will be a relationship driven business," Dirkschneider said. But "the more advanced AI becomes, the less some of our services are needed, and that's what can get scary."

Persons: Chris Davies, Davies, Davies's chatbot, —, " Davies, flexibly, Rod Santomassimo, he's, Santomassimo, CBRE, Sandeep Davé, Davé, haven't, James Nelson, Nelson, Bob Knakal, Santomassimo's, David Dirkschneider, Dirkschneider, Dirkschneider doesn't Organizations: Business, Massimo Group, National Association of Realtors, NAR, New York, Oklahoma City Locations: Edmonton, Alberta, Canada, CBRE –, New, New York City, Oklahoma

☆ Move over, millennials: Gen Zers are coming for boomers' houses
▼ + stars: | 2024-01-17 | by ( James Rodriguez | ) www.businessinsider.com time to read: +11 min

After all their economic misfortune, they'll still face a turbulent housing market and potentially tens of thousands of dollars' worth of necessary updates to boomers' aging houses. In his 2022 paper, "Who will buy the baby boomers' homes when they leave them? ", Engelhardt argued that mass aging would send ripples through the housing market but fail to push down prices significantly. After that point, demand for home purchases will once again outpace supply as millennials buy more homes and younger generations, like Gen Z and Gen Alpha, file in behind them. The timing of boomers' exit will mostly benefit younger generations, like Gen Z and Gen Alpha, who should find themselves on steadier footing than their predecessors.

Persons: Xers, they've, Zers, they'll, Odeta Kushi, Kushi, Gary Engelhardt, Engelhardt, Issi Romem, Meredith Whitney, Boomers, Gen Zers —, Gen, who've, millennials, boomers, Jessica Lautz, Nicole Bachaud, They've, Redfin, Alpha, they're, Lautz, savvier, Zoomers, James Rodriguez Organizations: millennials, Syracuse University, Boomers, Federal Reserve, Alpha, National Association of Realtors Locations: granny, New York, Los Angeles, Chicago, Dallas

☆ A city famous for its beaches is helping residents age in place. What to know if you want to stay in your home
▼ + stars: | 2024-01-14 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

About 10,000 baby boomers are expected to turn age 65 every day until 2030. An estimated 70% of those individuals will need long-term care services at some point, according to Genworth Financial. 'Forever grateful' for communitySylvia Bradshaw, an 84-year-old Laguna Beach resident who moved to the city in 1983, describes it as "paradise." "Anything that I've needed, I've gotten help," Bradshaw said. That has included help sorting through insurance choices, legal advice, transportation assistance and classes and social events, said John Bradshaw, Sylvia's son.

Persons: Laguna Beach , California Luciano Lejtman, Jessica Lautz, Lautz, Sylvia Bradshaw, Bradshaw, it's, Redman, I've, John Bradshaw, Sylvia's, John, Carolyn McClanahan, McClanahan, Tom West Organizations: Getty, National Association of Realtors, Laguna Beach, Planning Partners, Signature Estate, Investment Advisors Locations: Laguna Beach , California, Laguna, Ireland, Laguna Beach, Jacksonville , Florida, Tysons Corner , Virginia

☆ The biggest risks US businesses face in 2024
▼ + stars: | 2024-01-14 | by ( Bryan Mena | ) edition.cnn.com time to read: +11 min

But, while businesses have plenty to be grateful for and much to be optimistic about, the coast isn’t clear. Last week, surveys from the National Federation of Independent Business (NFIB) and The Conference Board detailed the biggest risks that businesses are currently worried about. Here are some of the biggest risks for American businesses in 2024. Those financial stresses can reduce the willingness of banks to lend to others businesses and also to consumers,” she said. Bank earnings look really bad this quarter.

Persons: there’s, “, John Maynard Keynes, ”, ” Dana Peterson, Bill Dunkelberg, ” Peterson, ” Suzanne Clark, We’re, Mike Johnson, Chuck Schumer, Fitch, Clark, JPMorgan Chase, Nicole Goodkind, Krystal Hur, FactSet, Martin Luther King Jr, Morgan Stanley, Goldman Sachs Organizations: CNN Business, Bell, DC CNN, Federal, National Federation of Independent Business, Board, US, of Commerce, of American, Conference Board, Conference, CNN, Fed, Corporate, US Chamber of Commerce, chamber’s State of American, AAA, Moody’s Investors Service, US Chamber, Commerce’s, Google, Citigroup, Bank, JPMorgan, FactSet, Revenue, Profit, Federal Deposit Insurance Corporation, Valley Bank, Signature Bank, Bank of America, FDIC, Citi, China’s National Bureau of Statistics, Alcoa, National Statistics, US Commerce Department, US Labor Department, Federal Reserve, University of Michigan, National Association of Realtors Locations: Washington, Wells, Corporate America, chamber’s State, BlackRock, Amazon, Argentina, Japan

☆ Can we turn all those empty office buildings into housing?
▼ + stars: | 2024-01-13 | by ( Anna Bahney | ) edition.cnn.com time to read: +9 min

Experts in housing, building, and urban planning say it may be difficult to convert office space to livable, likeable residential housing, but there’s an urgent reason they’re trying. More office space is sitting empty in the United States than at any point since 1979, Moody’s Analytics reported earlier this week. By some estimates, only 3% of New York City office buildings and 2% in downtown Denver are suited for residential conversions. Office space and homes are two fundamentally different types of buildings, according to builders and architects. Do you have another building where you can move them?”As result, according to Theodos, office conversions are not a solution to either the empty office glut or the housing supply shortage.

Persons: Biden, ”, Harold Bordwin, Keen, Brett Theodos, ” Bordwin, “, ” Maren Reepmeyer, ” Theodos, –, Nathaniel Meyersohn, Donald Judd Organizations: DC CNN, Moody’s, National Association of Realtors, Summit Capital Partners, Metropolitan Housing, Policy Center, Urban Institute, “, CBRE, Wacker, Chicago Business Locations: Washington, New York, Boston, Cleveland, United States, Manhattan, “, New York City, Denver, Chicago, Theodos

☆ US home prices jump another 5% on tumbling mortgage rates and tight supply
▼ + stars: | 2024-01-10 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

US home prices climbed 5.2% year-over-year in November, according to CoreLogic. Falling mortgage rates and a dwindling supply have helped prop up the market. AdvertisementUS home prices have continued to climb, according to CoreLogic data, with tumbling mortgage rates helping prop up the nation's supply-starved housing market. The US housing market stagnated last year – but there have been signs of a thaw in recent months, with mortgage rates falling away from 23-year highs. Home prices rose the most in the US's northeastern region in November – with the Rhode Island, Connecticut, and New Jersey housing markets each experiencing double-digit year-over-year growth.

Persons: Selma Hepp, —, Freddie Mac Organizations: Service, Biden Administration, National Association of Realtors Locations: –, Rhode Island , Connecticut, New Jersey, Idaho , Utah, Washington

☆ National Association of Realtors president says she is resigning after blackmail threat
▼ + stars: | 2024-01-08 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

The president of the National Association of Realtors on Monday said she was resigning due to a blackmail threat that sought to "compromise" her leadership role. NAR President Tracy Kasper said she had notified the group's leadership team "that she recently received a threat to disclose a past personal, non-financial matter unless she compromised her position at NAR." President-elect Kevin Sears will immediately step into the post at the group, which represents more than 1.5 million members working in the residential and commercial real estate industries. and the majority owner of two other real estate companies in the state, according to her NAR bio. Also, the article was updated to reflect that Kasper wasn't president of the NAR in 2016.

Persons: Tracy Kasper, Kasper, Kevin Sears, Kenny Parcell, Bob Goldberg, Berkshire Hathaway, Silverhawk, CNBC's Diana Olick, Kasper wasn't Organizations: National Association of Realtors, NAR, New York Times, CNBC PRO Locations: Berkshire, Boise Valley , Idaho

☆ The head of the National Association of Realtors abruptly resigned. She says she faced a blackmail threat.
▼ + stars: | 2024-01-08 | by ( Associated Press | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe National Association of Realtors is grappling with more turmoil in its top leadership ranks just over two months after the trade group's CEO stepped down well before his planned retirement. The Chicago-based organization said Monday that NAR president Tracy Kasper has resigned, effective immediately, and is being succeeded by the trade group's president-elect, Kevin Sears. In a statement, the NAR said Kasper recently received a "threat to disclose a past personal, non-financial matter unless she compromised her position at NAR." In early November, former NAR CEO Bob Goldberg announced he would be stepping down nearly two months before his planned retirement.

Persons: —, Tracy Kasper, Kevin Sears, Kasper, Bob Goldberg, Nykia Wright, Kenny Parcell Organizations: Service, Association of Realtors, Business, NAR, Chicago Sun, Times, The New York Times Locations: Chicago, Kansas City , Missouri, The, Utah

☆ The state of the US housing market in 5 charts
▼ + stars: | 2024-01-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

Read previewThe US housing market is facing historic unaffordability and it's kept countless Americans sidelined or forced to face hefty monthly home payments. This lock-in effect has created a tale of two markets: those who have been crushed by high mortgage rates and those who have mostly gotten by unaffected. Many Americans secured lower mortgage rates during the pandemic. AdvertisementBut in 2023, that dearth of supply for existing homes was a boon for homebuilders — and Wall Street took notice. William BlairFreddie Mac Multi-family Home Serious Delinquency Rate William Blair, Freddie MacUltimately, in 2024 William Blair forecasts supply to improve, mortgage rates to fall, and existing homeowners to return to the market out of necessity.

Persons: —, it's, William Blair, Richard de Chazal, homebuilders, William Blair's, de Chazal, William Blair Freddie Mac, Freddie Mac Organizations: Service, Industry, Business, National Association of Realtors, Federal, Wall, Bloomberg

☆ The state that left millennials behind
▼ + stars: | 2024-01-04 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +3 min

Millennials might be stuck California dreaming — and not able to do much more than fantasize. In the Golden State, homeownership is becoming more elusive, especially for millennials. In California, just about 38% of people ages 35 to 45 can say the same. That's not to say that millennials outside California are experiencing completely smooth sailing. A RentCafe analysis found that just over half of millennials now own, not rent.

Persons: Millennials —, That's, millennials, Insider's Kelsey Neubauer, Noah Sheidlower, Texas's Organizations: Golden State, Terner Center, Housing Innovation, UC Berkeley, National Association of Realtors, Survey Locations: California, Golden, it's, New York, Midwest, Texas , Arizona, Florida, Texas

☆ November pending home sales were unchanged, despite a sharp drop in mortgage rates
▼ + stars: | 2023-12-28 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +1 min

Mortgage rates are key in this report, with the average rate on the 30-year fixed mortgage soaring over 8% in mid-October before dropping sharply to 7.5% in the first week of November, according to Mortgage News Daily. Analysts had expected the drop to cause a slight gain in pending sales, but apparently it wasn't enough, given steep home prices and tight supply. Regionally, pending sales rose 0.8% month over month in the Northeast and 0.5% in the Midwest. Mortgage rates are now solidly in the mid-6% range, but the supply of homes for sale is still very low. "With mortgage rates falling further in December – leading to savings of around $300 per month from the recent cyclical peak in rates – home sales will improve in 2024," Yun added.

Persons: Lawrence Yun, –, Yun Organizations: National Association of Realtors, Mortgage News, Midwest ., Builders, CNBC PRO

☆ Why are real estate commissions 6%? – and why that’s about to change
▼ + stars: | 2023-12-03 | by ( Anna Bahney | ) edition.cnn.com time to read: +9 min

Many thought the internet would eventually kill the 6% real estate commission. Even as the ranks of stockbrokers and travel agents have dropped in recent years as commissions petered out, the number of real estate agents has grown and their typical commissions are bigger than ever as home prices have risen. That is largely because of the power of the National Association of Realtors, an influential lobbying group that represents 1.5 million real estate agents. How real estate commissions workHome sellers are usually on the hook for their real estate agent’s commission as well as for paying the agent that represents the buyer. Real estate agents will tell you commissions are negotiable — and they are.

Persons: Sellers, ”, Jordan Barry, “, Tiffany Hagler, won’t, Babiracki Barlow, “ we’ve, Vasi Organizations: DC CNN, Kansas City, Brookings Institution, stockbrokers, National Association of Realtors, University of Southern, National Association of Real, Exchanges, NAR, Association, Geard, Bloomberg, Getty, realtors, Agents, MLS, Department of Justice, DOJ, California Association of Realtors, New, Real, Board Locations: Washington, New York City, University of Southern California, Larchmont , New York, Boston, New York, New York —, York

☆ Millennials have become their own worst enemy in the housing market
▼ + stars: | 2023-12-02 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

The housing demand from millennials has made it harder for the generation to get into the game. Meanwhile, housing prices are still high but have started to pull back recently in some areas of the country. In September, Zillow reported that the total US housing market reached a record value of $52 trillion, a 49% jump since before the pandemic. AdvertisementMillennials are in danger of creating a housing bubbleThe research from Indiana University warns that the larger millennial population could lead to a housing bubble and a crash in the housing market. Demand from this generation is expected to wane just as baby boomers start to leave the housing market.

Persons: —, millennials, Zillow, ZIllow, Paul Bradbury, Millennials, boomers, Ariel Skelley, Xers, Tom Grill Organizations: Service, Federal Reserve, Indiana Business Research Center, IU Center, Real Estate, Getty, Education Data Initiative, National Association of Realtors, Indiana University Locations: millennials

☆ Why millennials say they need more than double the salary of other generations to be happy
▼ + stars: | 2023-12-01 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

Millennials said in a recent survey that they need $525,000 a year to be happy. It's likely due to high debt loads millennials hold, along with childcare and housing costs. The average respondent said they think they need a $284,167 annual salary to be happy, and for millennials, that amount was much higher at $525,000. As Business Insider recently reported, millennials' financial well-being has plummeted, according to Morning Consult's latest iteration of its well-being index. Big debt loads are a contributor to millennials' financial well-being right now.

Persons: Millennials, —, Gen Z, Gen X, millennials, Fannie Mae, it's, Jimmy Gomez, Joe Biden Organizations: Service, Federal Reserve, Consumer Financial, Federal, New York Federal Reserve, of Labor Statistics, National Association of Realtors

The Justice Department, during the Trump administration, closed an investigation into the realtors organization. The Biden administration re-opened it in 2021 so it could probe how broadly housing listings are available and what fees home sellers pay to the brokers who represent buyers. The government's concern focused on private listings of homes, which NAR banned but left some exceptions, and a rule that requires sellers to pay the buyer's broker. Because of concern about "pocket listings," or private listings not available to the public, the NAR adopted a "Clear Cooperation Policy" in 2019 that was supposed to ban pocket listings but has been criticized for allowing exceptions. The NAR's Participation Rule had required brokers who listed a house to offer compensation to the buyer's broker.

Persons: Sarah Silbiger, Trump, Biden, Judge Florence Pan, Frederick Liu, Chris Michel, Diane Bartz, Chizu Organizations: REUTERS, Rights, Justice Department and National Association of Realtors, The Justice Department, realtors, U.S ., Appeals, Circuit, NAR, Thomson Locations: Washington , U.S

Both are yet another indication that inflation has moderated from its pace of last year when consumer inflation was running at a 9.1% annual rate. “After fears of "sticky" and "persistent" inflation, the month to month slowing in the core pce readings is encouraging. Core pce has risen by 0.3% or less for 8 consecutive months. Political Cartoons on Inflation View All 19 Images"This report hit the trifecta,” said Navy Federal Credit Union corporate economist Robert Frick. “During October, mortgage rates were at their highest, and contract signings for existing homes were at their lowest in more than 20 years,” said Lawrence Yun, NAR chief economist.

Persons: ” Kathy Jones, ”, Robert Frick, “, Zumper, Lawrence Yun, Curt Long Organizations: Federal Reserve, pce, Schwab Center, Financial Research, Federal Credit Union, National Association of Realtors, NAR, Fed, Labor, National Association of Federal Credit Unions, Dow Jones Industrial Locations: “

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