News
Bloomberg | Pending Sales of Previously Owned U.S. Homes Jumped 6.7%
More Americans signed contracts in May to buy previously owned homes than at any time in more than six years, a sign of bigger progress in the industry.
Market Watch | Fitch joins others in cutting China forecast
Fitch Ratings on Wednesday cut its forecast on China's 2013 economic growth to 7.5% from its previous projection of 8% in March.
FOX Business | Consumer Spending, Income Rise in May
Consumer spending rebounded in May and new applications for unemployment benefits fell last week, suggesting the economy remained on a moderate growth path.
Bloomberg | European Economic Confidence Improves More Than Forecast
Economic confidence in the euro area improved more than economists forecast in June, adding to indications the 17-nation economy is starting to recover from the longest recession since the debut of the common currency.
CNN Money | Mortgage rates soar to 4.46% - biggest jump in 26 years
Rates on 30-year, fixed-rate home loans spiked 0.53 percentage points to an average of 4.46% this week -- the largest weekly increase in more than 26 years, according to mortgage giant Freddie Mac.
Econ Comments & Analysis
Washington Times | Obama’s argle-bargle on Keystone
In delivering his Georgetown climate speech on Tuesday, Keystone seemed to be an afterthought. It was not in the 21-page climate “plan” the White House distributed or the shorter fact sheet. Reference to it appears in only one paragraph of his prepared text.
Investors | Weak Economy Exposes Obama's Upside-Down Priorities
After running for re-election vowing to make jobs and economic growth his top priority, President Obama has focused on everything but since winning. His misplaced priorities are costing plenty.
WSJ | Regulators Have Created a Mortgage Minefield
Bankers will soon step into a mortgage minefield—a no-win landscape in which every move will be fraught with peril, and in which the ultimate casualties will be the nascent housing recovery and the American home buyer.
Blogs
WSJ | Why Was GDP Revised Down so Much?
The Commerce Department offered an unpleasant surprise Wednesday in its latest estimate of U.S. economic growth: an unusually sharp downward revision to growth in the first quarter.
