The Commerce Department has today revealed US housing starts slumped in April – much worse than forecast. Housing starts dived 10.6% in the month to a seasonally adjusted annual rate of 523,000 units, analysts had expected an annual rate of 563,000. In the meantime, applications for building permits, a barometer of future home construction, also [...]
The Commerce Department has today revealed US housing starts picked up in March but the recovery remains a long way off, according to analysts. Housing starts increased 7.2% to a seasonally adjusted annual rate of 549,000 units, while February’s figure was revised upwards to 512,000. In the meantime, applications for building permits, a barometer of [...]
The Commerce Department has today revealed a decline in US housing starts for the month of February. According to the Commerce Department, construction of new US homes dived 22.5% on a monthly basis in February to a seasonally adjusted annual rate of 479,000 units. This represented the second lowest level since records began in 1959 [...]
The Commerce Department has revealed a decline in US housing starts for the month of December – partly attributed to the severe wintry weather which gripped parts of the country during the month. According to the Commerce Department, construction of new US homes fell 4.3% on a monthly basis to a seasonally adjusted annual rate [...]
The Commerce Department has revealed a severe decline in US housing starts for the month of October – falling to a near record low. According to the Commerce Department, construction of new US homes fell 11.7% on a monthly basis to a seasonally adjusted annual rate of 519,000 units – the lowest since April 2009 [...]
The core measure of inflation in the US slowed further last month, posting a 0.6% annual rise – the lowest year-on-year gain on record and way below the Federal Reserve’s target of about 2%. Core prices, which exclude food and energy costs, have now remained flat for three consecutive months, the Labor Department said today. [...]
The Commerce Department has revealed a rise in US housing starts for the month of September, but building permits fell, giving mixed signals for the property market. According to the Commerce Department, construction of new US homes rose 0.3% last month to a seasonally adjusted annual rate of 610,000 units – the highest level since [...]
There was some good news from the US housing market today after the Commerce Department revealed housing starts jumped in August to a four-month high. According to the Commerce Department, construction of new US homes rose 10.5% last month to a seasonally adjusted annual rate of 598,000 units – beating analysts expectations of 550,000. In [...]
The Commerce Department has today revealed US housing starts recovered in July but building permits fell. According to the Commerce Department, construction of new US homes rose 1.7% to a seasonally adjusted annual rate of 546,000 properties – however, the figure was less than economists had expected. In the meantime, applications for building permits, a [...]
The Commerce Department has today revealed US housing starts plummeted in June – far more than expected, raising fears for the already fragile housing market. According to the Commerce Department, construction of new US homes fell 5% in the month to a seasonally adjusted annual rate of 549,000 properties – the lowest since October 2009 [...]
Official data from the Labor Department has today revealed that US consumer prices fell for the third consecutive month in June, by 0.1% on a monthly basis. The fall was attributed to declines in energy prices, which were down 2.9%, food prices remained flat. The fall in June followed declines of 0.1% and 0.2% in [...]
Official data has today revealed that US consumer prices fell in April by 0.1% on a monthly basis – the first decline in 13 months. The fall was attributed to declines in petrol, housing, car and clothing prices according to the Labor Department. Petrol prices fell by 2.4%, clothing costs fell 0.7%, while food costs [...]
The Commerce Department has today revealed US housing starts soared in April, boosted by the expiration of a Government tax credit, which ended last month. According to the Commerce Department, construction of new US homes rose 5.8% in the month to a seasonally adjusted annual rate of 672,000 properties – the highest since October 2008. [...]
The Federal Reserve has today elected to keep US interest rates at the historically low level of between 0% and 0.25%, as widely expected. After the one day meeting, the Federal Open Market Committee (FOMC) voted 9-1 to keep rates unchanged. Interest rates in the world’s largest economy have been at the low level since [...]
The Commerce Department has today revealed US housing starts fell during the month of February, while building permits were also down. Both declines were attributed to the severe wintry weather that gripped parts of the US during the month. According to the Commerce Department, construction of new US homes fell 5.9% during the month to [...]
Respected US billionaire investor Warren Buffett has said the problems in the US property market will be over within a year. In his annual letter to shareholders in Berkshire Hathaway, the investment group controlled by Mr Buffett, he said prices will remain ‘far below bubble levels’ for the medium term. He added: “People thought it [...]
The Commerce Department has today revealed US housing starts increased for the month of January but building permits were down. According to the Commerce Department, construction of new US homes rose 2.8% during the month to a seasonally adjusted annual rate of 591,000 properties. While this represented the highest level in six months, the figures [...]
The Commerce Department has revealed a fall in housing starts for the month of December but building permits rose. According to the Commerce Department, construction of new US homes fell 4% during the month to a seasonally adjusted annual rate of 557,000 properties. The fall was primarily due to bad weather which hit most of [...]
The Federal Reserve yesterday opted to keep US interest rates at the historically low level of between 0% and 0.25%, as widely expected. The Fed acknowledged that the economy is strengthening and said it will keep rates “exceptionally low” for “an extended period”. Evidence that a recovery is on track came yesterday after official data [...]
The US economy received a boost today after the Commerce Department revealed a rise in housing starts for the month of October, recovering from the slump in September. According to the Commerce Department, construction of new US homes surged 8.9% during the month to a seasonally adjusted annual rate of 574,000 properties. The figure was [...]
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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