Labor/Economy

Builder confidence in the market for new single-family homes rose one point in March to 47 on the National Association of Home Builders/Wells Fargo Housing Market Index.

The Reuter’s/University of Michigan’s consumer sentiment index dropped a little more than expected for its mid-March reading.

Most categories of employment saw some kind of net increase during February. Also, total January exports and imports resulted in a U.S. goods and services deficit of $39.1 billion, down from $42 billion in January 2013.

The modest increase in U.S. jobs continued in February, with the addition of 175,000. Household net worth increased again in the fourth quarter of 2013 to a record level. And 4 million U.S. mortgage holders returned to positive equity in 2013.

Automated Data Processing said that the U.S. private sector created 139,000 jobs in February, the third weak total in three months. Also, according to the Beige Book, most of the 12 Federal Reserve districts reported ‘modest to moderate’ expansion.

Personal income increased 0.3 percent in January compared with December. Construction spending edged up by 0.1 percent in January as well. Wall Street took a dive on Monday, with investors apparently nervous about the situation in Crimea.

Revised GDP number shows annualized rate of 2.4 percent for the fourth quarter of 2013. Also, Zillow data shows fewer homeowners under water, while the NAR reports pending home sales are down.

The U.S. mortgage delinquency rate decreased more than 10 percent year over year. Also, Janet Yellen testifies before the Senate Banking Committee, hinting that the tapering will continue unless ‘significant’ change in outlook takes place.