Germany has its debt reduced to the lowest level since 2011
In the first half of 2018, Germany managed to reduce its overall public debt by up to 2…
In April home starts dive 3.7% in the US, while keeping to an 11-year peak
In April, the construction of new houses went down by 3.7%, but this is not so crucial, as the home starts hit the 11-year maximum just a month earlier, and market experts expected some digression.
The annual rate of construction of new homes inched down to 1.29 million units the previous month from an updated 1.34 million units in March that appeared to be the strongest indicator since mid-2007.
Market experts had expected that they’d amount to about 1.31 million units
Permits for construction slumped by 1.8% to 1.35 million per annum, as the report informed on Wednesday.
Most of the dive in housing construction took place in a volatile multi-unit category, including villas, townhouses, apartment buildings and so on.
The laying of new houses for one family hasn’t changed a lot. These homes make up the bulk of the market for new homes in America.
The laying of new homes has dived in all regions except the South, where approximately half of all new homes are built every year.
A broader picture demonstrates that the housing market has been soaring for years because of low interest rates as well as a better job market in two decades, although soaring mortgage rates might cause compression.
For example, the cost of a mortgage loan hit a seven-year maximum and this affected the recent dive in the number of applications for mortgages.
As a matter of fact, prices are still low by historical standards, and a surging economy means that there are still many buyers on the market, and their main problem is the lack of supply. The construction of new housing has tacked on by almost 11% versus a year earlier, but it’s still not enough to back demand.
Similar
Daily news: Anticipation of the Fed's rate hike
New Zealand trade balance for the last month was released today…
China will invest $3.8 trillion in its digital economy
On Wednesday, China's state planner uncovered further advancement in the country's ambitious $3…
Latest news
Forex today: easing geopolitical tensions
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
Common currency ascends ahead of euro zone data
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
Greenback edges down
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
Deposit with your local payment systems
