Economic Statistics for 27 Apr 17
Stating that the economy “appears to have slowed” and household spending has moderated, The Federal Open Markets Committee left short-term interest rates unchanged, with a Fed Funds target rate of 0.25-0.50%.
The NAR’s Pending Home Sales Index rose 1.4% in March to 110.5.
March’s international trade deficit narrowed by a sharp -9.5% to $-56.9 billion, with exports down -1.7%, and imports plunging by -4.4%. Consumer goods imports fell -9.1%, indicating decreasing consumer demand.
The MBA reports that mortgage applications fell -4.1% last week, with purchases down -2.0% and refis down -5.0%.