The median income rose to $56,516 in 2015, a 5.2% increase from a year earlier.
Federal Reserve Chair Janet Yellen returns to the most-watched economic confab of the year — the symposium in Jackson Hole, Wyoming — after missing last year’s, and all ears will be listening for a hint at monetary policy for the rest of the year.
The Bank of England cut its key bank rate to 0.25% as it tries to dampen a recession that economists had predicted following the vote by the U.K. to leave the European Union.
This week, Japan’s cabinet approved a stimulus package with new spending of $73 billion made up, in part, of helicopter money.
Today’s weak report on 2nd quarter gross domestic product is welcome news for mortgage shoppers.
The central bank votes thumbs-down to an increase in interest rates, kicking the can down the road to at least September.
Home-shoppers, be cheerful: Job growth in June was surprisingly high, but the news hasn’t had much effect on mortgage rates. They’re staying near record lows. Read this week’s mortgage analysis, in which the 30-year-fixed fell to just shy of its all-time low at 3.52%. RATE SEARCH: Ready to shop for a mortgage? Find the best
More than a million dwellings needed to be built last year just to keep up with the new households that were created. Yet only 620,000 new housing units were completed, meaning that the nation fell short by 430,000 homes. And that’s just in 1 year. So says Laurie Goodman, codirector of the Urban Institute’s Housing
The Fed shelves a June hike in the federal funds rate — the rate at which banks and credit unions lend reserves to other institutions overnight.
CoreLogic economists say they expect mortgage rates to rise — that’s a safe bet — so they think refinances will dry up.