The Commerce Department has revealed sales of new homes in the US fell to a six-month low in August, suggesting the housing market remains depressed. According to the Commerce Department, new single-family home sales fell 2.3% in August to a seasonally adjusted annual rate of 295,000 units – the lowest level since February. The figure [...]
The Commerce Department has revealed sales of new homes in the US fell in June, suggesting the housing market remains depressed. According to the Commerce Department, new single-family home sales fell by 1% in June on a monthly basis to an annual rate of 312,000 units – lower than expectations of 325,000 units. Meanwhile, the [...]
The Commerce Department has today revealed sales of new homes in the US dived to a record low last month. According to the Commerce Department, new single-family home sales plunged 16.9% to an annual rate of 250,000 units – the lowest since records began in 1963. Analysts had expected a rate of 290,000 units. However, [...]
The National Association of Realtors (NAR) has today revealed a surge in sales of previously owned homes in the US for the month of August. The industry body said sales jumped 7.6% in August to an annual rate of 4.13 million units, up from a revised 3.84 million units in July – which represented the [...]
The National Association of Realtors (NAR) has today revealed a surprise drop in sales of previously owned homes in the US for the month of May, despite the Government tax credit designed to entice homebuyers. The industry body said sales fell 2.2% in May to an annual rate of 5.66 million units, up from a [...]
US consumer confidence rose in may, despite fears about the debt crisis in the euro zone. The closely-monitored Consumer Confidence Index from the Conference Board rose for the third consecutive month to 63.3 in May, up from 57.7 the previous month. However, despite the rise, the index still remains far away from the 90 points [...]
The National Association of Realtors (NAR) has today revealed a rise in sales of previously owned homes in the US for the month of April, boosted by the expiration of a Government tax credit, which ended last month. The industry body said sales surged 7.6% in April (a five-month high) to an annual rate of [...]
There were concerns over a recovery in the US housing market today after the Commerce Department revealed a fall in the annual rate of US new home sales in September. According to the Commerce Department, new single-family home sales dived by 3.6% to a seasonally adjusted annual rate of 402,000 homes, down from a revised [...]
The National Association of Realtors has revealed a surprise rise in sales of previously owned homes in the US for the month of September. The industry body said sales surged 9.4% to an annual rate of 5.57 million in September, up from 5.09 million the previous month. The rate far exceeded analysts expectations who had [...]
The National Association of Realtors announced today that sales of previously owned homes in the US dipped in August following four consecutive monthly gains. The industry body said sales fell 2.7% to an annual rate of 5.1 million in August, down from an annual rate of 5.24 million the previous month. The figures show that [...]
The closely-monitored Institute of Supply Management’s purchasing managers index rose to 52.9 in August, up from the 48.9 reported the previous month. Any reading above 50 indicates expansion and is the latest sign that the recession may be coming to an end. In the meantime, the National Association of Realtors said US home sales rose [...]
Federal Reserve chairman Ben Bernanke said today the prospects for economic recovery “appear good” and sent global stock markets higher. The Dow Jones index gained 1%, London’s FTSE 100 index climbed 2% to close at 4,850.89. Germany’s Dax index rose 2.8%, while France’s Cac 40 added 3.1%. Mr Bernanke’s comments came at a speech in [...]
Figures from the US Commerce Department have revealed today that the US economy contracted at its fastest pace in the July to September period, since the aftermath of the 9/11 terrorist attacks 7 years ago. Gross Domestic Product (GDP), which is used as a measure of economic health, fell by 0.5% in the third quarter, [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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