‘Economy Watch’ Podcast with Dees Stribling: Detroit is Hitting the Rocks
Detroit hits the rocks, and Chairmen Bernanke talks tapering before Congress.
Economy Watch: Unemployment Rates Edge Up in Many States
The Bureau of Labor Statistics reported that 28 states experienced unemployment rate upticks in June: 11 states had decreases, and 11 states and the District of Columbia saw no change.
Economy Watch: Detroit Files for Chapter 9
On Thursday, Detroit became the largest city in the nation ever to file for the municipal version of bankruptcy, Chapter 9.
Economy Watch: Downswing in Apartment Construction
The Census Bureau reported that housing starts came in at an annualized rate of 836,000 in June, or 9.9 percent below the May total of 928,000.
Economy Watch: Homebuilders Feeling Optimistic
The National Association of Home Builders reported that its Housing Market Index rose six points over the last month to a score of 57 for July.
Economy Watch: Retail Sales Eke Out Gain
The Census Bureau reported that U.S. retail and food services sales for June were $422.8 billion, an increase of 0.4 percent from the previous month.
‘Economy Watch’ Podcast with Dees Stribling: Mortgage Rates are Up
Mortgage rates are up, but the Fed promises that tapering doesn’t mean it’s going to raise its interest rates.
Economy Watch: Gas Prices Spike
Mortgages weren’t the only thing seeing an increase in price recently. An arguably more visceral increase has struck the U.S. economy—and with it, consumer’s propensity to spend money to support growth—a rise in the price of gas.
Economy Watch: Fed Seems Determined to Taper QE3
The Federal Reserve released the minutes from the June 18-19 meeting of the Federal Open Market Committee on Wednesday, and while (as usual), they weren’t precisely a model of clarity, the minutes did seem to reinforce the idea that the central bank is indeed planning to “taper” its QE3 stimulus program.
Economy Watch: Mortgage Rates Spike
The recent uptick in interest rates has begun to have an impact on mortgages, according to Zillow.

