New Home Sales

Core Inflation Still Beyond Fed's Comfort Zone

Source: Bureau of Labor Statistics

Housing Starts

Source: U.S. Census Bureau

Testimony of Chairman Ben S. Bernanke : Semiannual Monetary Policy Report to the Congress Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate February 14, 2007

Today's Economic News

Despite today's higher than expected trade deficit figure for December (-$61.2 billion) the trend in the petroleum sector has fallen sharply in the second half of 2006 as oil prices declined. The trend in the ex-petroleum trade category has also been trending lower over the past year.


Source: Bureau of Economic Analysis & U.S. Census Bureau

Mortgage insurer MGIC to buy Radian for $5.47 bln - (Reuters)

Mortgage Insurance on the Rise - (San Francisco Chronicle)

The Residential Mortgage Market and Its Economic Context in 2007 -- (Mortgage Bankers Association of America)

Y/Y Hourly Earnings Decline in January But Still High

The trend is still up and a good thing for workers. However, the overall picture indicates a possible inflation threat that argues against an interest rate cut by the Federal Reserve.

Source: Bureau of Labor Statistics

GDP and Private Residential Investment Q4 2006

The Commerce Department said that, according to its advance estimates, private residential investment, which fell at a 19.2% rate in the fourth quarter, cut 1.16% off the gross domestic product growth rate. This means that, if not for the residential component, the 3.5% GDP figure for the quarter would have been 4.7%.

Source: Bureau of Economic Analysis