Ishakis Finance Report Mortgage Broker Brooklyn
Loan Officer Yael Ishakis’s take on mortgage and finance news.
Last week’s economic news included readings on February construction spending and multiple reports on employment data. Private sector employment was higher in March, but The Bureau of Labor Statistics reported that Non-Farm Payrolls for March fell short of expectations.
Harsh winter weather conditions contributed to home prices falling in January.
The Federal Reserve’s Federal Open Market Committee met last week and Janet Yellen held her first press conference as Fed chair. According to the FOMC statement released after the meeting, the Fed cited severe winter weather conditions as a reason for slow economic growth in recent months.
Spring is almost here, and the National Association of Home Builders Housing Market Index (NAHB HMI) thawed slightly in March.
According to the S&P/Case-Shiller Index, which was released earlier this week, U.S. home prices rose in September for the sixth straight month, climbing 0.3% as compared to the month prior.