Many people understand the “natural rate of unemployment,” and if you don’t, you can probably guess what it is – the rate of unemployment when the labor market reaches equilibrium. What many people don’t know is that a similar concept exists in monetary policy. Read More ›

Whether it’s parents shuttling their children off to elementary school or students starting their final year of college, back-to-school season is here. We generally spend a minimum of 12 years as a student, more if you pursue a college degree. Along the way, we’re told that education is critical to your ability to earn a decent living. Read More ›

First American Chief Economist Mark Fleming was interviewed on FOXBusiness earlier this week and discussed the U.S. economy, Federal Reserve policy and the state of the job market. Read More ›

Traditional measures of affordability can be misleading to potential first-time home buyers because they compare overall median household income with the income required to purchase a median-priced home. However, median household income includes existing homeowner households, which have significantly higher median income than renter households, so ... Read More ›

First American Chief Economist Mark Fleming was interviewed on CNBC and Deputy Chief Economist Odeta Kushi was interviewed on Nightly Business Report last week, where they discussed the refinance boom driven by low mortgage rates and the tailwinds boosting the housing market. Read More ›

The Loan Application Defect Index for purchase transactions continued its downward trend, declining 3.6 percent in July compared with June, the fourth consecutive month defect risk in purchase transactions has fallen. The Defect Index for refinance transactions also fell 4.2 percent compared with the previous month. The overall Defect Index, which ... Read More ›