New-home sales fell 5.1% in December compared with the level of the previous month, according to new figures compiled by the U.S. Commerce Department.However, compared with sales in the same month a year ago, new-home sales rose slightly, by 0.8%. According to the government, sales of new single-family homes totaled a seasonally adjusted annual rate of 1.06 million units during the month. The median sales price of a new home was $197,600, and the average sales price totaled $261,100. The government said that 1,085,000 hew homes were sold during all of 2003, an 11.5% increase from the total of the year before. According to an analysis report by Greenwich Capital, "The drop in new home sales in December is surprising in view of the rebound in mortgage demand and existing homes toward year-end."
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
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Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
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McCargo stabilized the agency at a crucial time as she helped navigate it through both a pandemic and subsequent dramatic interest-rate cycle change.
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The quasi-public entity's plan to buy certain closed-end seconds would constitute "unnecessary government encroachment," the Structured Finance Association said.
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The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
April 18