MBA Advocacy Update Nov. 29, 2021
On Monday, President Joe Biden announced his intent to nominate current Federal Reserve Chair Jerome Powell for a second term and current Board member Lael Brainard for Vice Chair. Also last week, MBA submitted comments to the Federal Housing Finance Agency in support of its proposed changes to the capital framework applicable to the GSEs.
October New Home Sales Up 0.4%
New home sales in October rose for the second straight month, albeit just slightly, HUD and the Census Bureau reported Wednesday.
Initial Claims Plunge to 50-Year Low
Initial claims for unemployment insurance fell dramatically last week, well below pre-pandemic levels to the lowest rate in more than 50 years, the Labor Department reported Wednesday.
MBA Chart of the Week Nov. 24, 2021: Price Changes in Turkeys, Cars, Shelter
Inflation has been a dominant story of late, given the widespread disruption in supply chains and labor shortages resulting from the pandemic.
3Q GDP Holds Steady at 2.1%
Real gross domestic product increased at an annual rate of 2.1 percent in the third quarter, according to the "second" estimate released by the Bureau of Economic Analysis.