US housing starts eased in September as a drop in multifamily projects outweighed a pickup in construction of single-family dwellings.Housing starts decreased 0.5% last month to a 1.35 million annualized rate, according to government data released Friday, after a big rebound in August. The September figure was in line with the median projection in a Bloomberg survey of economists.Starts of single-family homes climbed 2.7% to an annual
The 30-year fixed-rate mortgage rose for the third consecutive week.Mortgage rates are inching higher, but prospective home buyers needn’t be too spooked: Rates are still more than one percentage point lower than a year ago.The 30-year fixed-rate mortgage averaged 6.44% this week, Freddie Mac reports. It marks the third consecutive week that rates have risen. Meanwhile, mortgage applications for home purchases dropped 7% in the last week as mor
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Retail sales saw a slight month-over-month drop in September 2024, but year-over-year consumer spending increased.According to the CNBC/NRF Retail Monitor, as interest rates and inflation fell and employment rose, total retail sales, excluding automobiles and gasoline, were down 0.32% seasonally adjusted month-over-month. However, total retail sales grew 0.55% unadjusted year-over-year.These results compare with increases of 0.45% month-over-mont
A mix of hand-crafted materials, beautiful lighting and a vibe of serenity are trending in bathroom design. Sometimes the look comes off as bold, sometimes it’s more subtle. Fixr, a home remodeling website, surveyed about 70 top interior designers and home staging experts to uncover some of the biggest trends in bathroom design. Here’s what topped designers’ lists:Organic Design Organic materials can include wood and stone to channel some e
The U.S. economy added far more jobs than expected in September, pointing to a vital employment picture as the unemployment rate edged lower, the Labor Department reported Friday.Nonfarm payrolls surged by 254,000 for the month, up from a revised 159,000 in August and better than the 150,000 Dow Jones consensus forecast. The unemployment rate fell to 4.1%, down 0.1 percentage point.With upward revisions from previous months, the report eases conc
The 30-year fixed-rate mortgage averaged 6.12% this week, Freddie Mac reports.After several weeks of declines, mortgage rates reversed course this week, inching up slightly. Still, with the 30-year fixed-rate mortgage averaging 6.12%, according to Freddie Mac, borrowing costs remain well below a year ago, when rates surged above 7%. Prospective home buyers may want to stop holding out for lower rates, experts say.“The decline in mortgage rates
As far as economic data goes, it was a bit of a stunner.Economists had expected U.S. employers to have added about 150,000 jobs in September. Instead, they created more than a quarter-million jobs last month, while the unemployment rate fell to 4.1%, according to a report Friday from the Labor Department.Here are five things to know about Friday's surprisingly strong jobs report.Employers are still adding a lot of jobs In total, the U.S. added 2
Private sector hiring picked up in September, indicating the labor market is holding its ground despite some signs of weakness, payrolls processing firm ADP reported Wednesday.Companies added 143,000 jobs for the month, an acceleration from the upwardly revised 103,000 in August and better than the 128,000 consensus forecast from economists polled by Dow Jones.While hiring increased, the rate of pay growth took another step down. The 12-month gai
U.S. construction spending unexpectedly fell in August amid a sharp drop in outlays on single-family housing projects, but declining borrowing costs could stimulate activity in the months ahead.The Commerce Department's Census Bureau said on Tuesday construction spending dipped 0.1% after a downwardly revised 0.5% drop in July. Economists polled by Reuters had forecast construction spending would edge up 0.1% after a previously reported 0.3% decr
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