The Federal Open Market Committee, as expected, raised the federal funds rate by 75 basis points on Wednesday to its highest level since 2008.
Tag: First American Financial Corp.
September Housing Starts Down 8%
September housing starts took back the temporary momentum it gained in August, falling by more than 8 percent, HUD and the Census Bureau reported Wednesday.
Bob Caruso of ServiceMac on Changes in Mortgage Servicing and Subservicing
Bob Caruso is CEO of ServiceMac LLC, Fort Mill, S.C., a wholly owned subsidiary of First American Financial Corp.
Educated Millennials Hold Key to Future Homeownership Demand
First American Financial Corp., Santa Ana, Calif., said in challenging housing market conditions with higher interest rates, certain fundamentals will drive future growth. One such driver, said First American Deputy Chief Economist Odeta Kushi, is level of education.
Employment Show Signs of Slowing
Non-farm employment slowed to 263,000 jobs in September, the Bureau of Labor Statistics reported Friday, while the unemployment rate fell back to pre-pandemic levels.
August Housing Starts Rise; Drop in Permits Casts Shadow
The good news: August housing starts beat expectations, rising by more than 12 percent from July. The bad news: housing permits fell just as dramatically, lending uncertainty to an already volatile 2022 housing market.
Employers Add 315,000 August Jobs
July job growth slowed from June, the Bureau of Labor Statistics said on Friday—but analysts said that’s not necessarily a bad thing.
July Pending Home Sales Down 1%
Pending home sales fell for the eighth time in nine months, the National Association of Realtors reported Wednesday, with all four regions seeing double-digit year over year decreases.
July New Home Sales at 6-1/2 Year Low; Price Growth Decelerates
New home sales fell to their slowest pace in six and a half years, while inventories stockpiled, HUD and the Census Bureau reported Tuesday. In a separate report, RE/MAX, Denver, said median home sales prices fell for the first time since January
July Housing Starts Take Sharp Hit
It already hasn’t been a good week for housing. On Monday, the National Association of Home Builders reported its Housing Market Index fell for the eighth straight month to two-year low. And on Tuesday, HUD and the Census Bureau reported housing starts fell in July by nearly double digits to its slowest pace since 2020.