Home Depot’s strong quarter shows housing market is still booming
New York(CNN Business)Home Depot has a message for all of the economic naysayers: Hold my plywood. The home improvement retail giant reported better-than-expected gains in sales and earnings for the first quarter Tuesday and lifted its outlook for the rest of this fiscal year. Shares of Home Depo...
Almost 45% of homeowners are now equity rich
Latest trend on home equity is good news for homeowners, challenging for first time buyers Soaring home prices continue to serve existing homeowners, with nearly 45% of all property owners now considered equity rich, a year-over-year jump that boosted 13% more homeowners into the prime position. A h...
Opinion: The housing market is about to finally cool off
After 14 straight months of year-over-year home price growth reaching into the double digits, we’re finally starting to see the early signs of a cooling housing market. Don’t worry. A crash isn’t coming. In fact, prices may not even fall. Rather, this will be a much-needed rebalanc...
Job growth remained strong in April, unemployment rate unchanged
Construction and real estate sectors both saw modest job growth Despite rising interest rates and fears of an economic downturn, job growth in the U.S. had another strong month in April. The U.S. jobs report, released Friday, showed that a total of 428,000 nonfarm payroll jobs were added in Ap...
Fannie Mae income drops amid mortgage market troubles
But net worth was up for the GSE, which is also contending with delinquent loans and increased liquidity requirements Fannie Mae, the government-sponsored enterprise that backs the majority of conventional mortgages, is not immune to the sharp decline in mortgage refinances. The enterprise reported ...