skip to Main Content

Existing Home Sales Dip More Than Expected

November sales of pre-owned homes dipped lower than expected and prior month's readings according to the National Association of Realtors (NAR). Analysts expected existing home sales to slow to a seasonally-adjusted annual rate of 5.30 million sales, which was based on October's reading of 5.32 million sales. Instead, November's reading dropped to 4.76 million sales. November's drop represented a decline of 10.50 percent drop in existing home sales month-to-month; existing home sales were 3.80 percent lower year-over-year.
Read More

Federal Reserve Raises Short-Term Interest Rates

After prolonged speculation by economic analysts and news media, the Federal Open Market Committee of the Federal Reserve raised short-term interest rates for the first time in seven years. Committee members voted to raise the target federal funds rate to a range of 0.25 to 0.50 percent from a range of 0.00 to 0.25 percent to be effective December 17.
Read More
Back To Top