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About Keith Molyneaux

Posts by Keith Molyneaux…

Existing Homes Sales Fall, but Prices Continue Record-Breaking Surge

U.S. home prices continued their rapid climb in May with the median price exceeding $400,000 for the first time, even as sales activity slowed amid higher mortgage rates. The U.S. housing market has faced several headwinds in recent months. The Federal Reserve’s inflation-combatting rate hikes have sent mortgage rates soaring. Stocks have entered a bear […]

Mortgage Rates See Biggest Weekly Jump in More than 30 Years

Mortgage rates surged by more than half a percentage point this week amid rampant inflation and the largest interest rate increase from the Federal Reserve since 1994. The weekly increase in mortgage rates is the largest since 1987 and brings rates to the highest level since 2008. The average rate for a 30-year fixed-rate mortgage […]

U.S. Retail Sales Unexpectedly Decline as Consumers Grapple with Inflation

Retail sales turned negative for the first time in five months in May as consumers pulled back on spending in the face of surging inflation. Retail sales, which include spending in stores, online, and restaurants, fell by a seasonally adjusted 0.3% in May, according to the Commerce Department. Economists surveyed by Dow Jones estimated that […]

Consumer Sentiment Plummets to Record-Low Amid Surging Inflation

Consumer sentiment fell to the lowest level on record in June, as surging costs for food and gas weighed on American consumers. The University of Michigan’s consumer sentiment index plunged from 58.4 in May to 50.2 in June. That is the lowest recorded level since the university began tracking consumer sentiment data in the late […]