Federal Reserve

Last week's economic news included construction spending, which fell shy of expectations but exceeded the prior month's spending, and several consumer and labor-related reports. The details: Mortgages More Accessible: Fed Survey A Federal Reserve survey of senior loan officers at 73 U.S. banks and 23 branches of foreign banks indicated that mortgages may be more accessible. While banks eased credit standards for mortgages eligible for purchase by Fannie Mae and Freddie Mac, consumer demand for mortgages fell over the last three months. This seems puzzling given lower mortgage rates, but mortgage lending rules remain tough for borrowers with less than…

Last week's scheduled economic news was mixed. Job openings increased and jobless claims increased, and consumer sentiment rose. Mortgage rates fell across the board. Labor market conditions improved and consumer prices fell in large part due to decreasing fuel prices. The details: Labor Market Conditions Index Suggests Stronger Economy, Jobless Claims Jump Positive labor market ratings continued to show evidence of strengthening economic conditions. The Federal Reserve's Labor Market Conditions Index rose from November's revised reading of 5.50 to December's reading of 6.10. This index measures 19 economic indicators and rose well above its median reading of 1.90. November's reading…