Economic Center Blog
Welcome to the First American Economic Center Blog, a top source for the latest housing market research and analysis driven by Chief Economist Mark Fleming.

Why Our Economy Is Generating More Investment Growth In IP Than IT

By Odeta Kushi on October 16, 2019

Important, but easy to overlook shifts in investment trends may be contributing to our current era of low interest rates. An excess supply of global savings relative to the demand for that money for investments is driving down interest rates, which can be thought of as the price of money. The neutral rate of interest, which is monitored by the...

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Topics: Interest Rates Federal Reserve

What Is The Neutral Rate Of Interest And How Does It Influence The Federal Reserve?

By Mark Fleming on September 17, 2019

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.

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Topics: Interest Rates Federal Reserve

Interview On FOXBusiness: Discussing The Outlook For The U.S. Economy, Federal Reserve Policy And The State Of The Job Market

By FirstAm Editor on September 6, 2019

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.

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Topics: In The News Interest Rates Federal Reserve

Interviews On CNBC And Nightly Business Report: Discussing The Refinance Boom And Tailwinds Boosting The Housing Market

By FirstAm Editor on September 3, 2019

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.

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Topics: Housing In The News Interest Rates Federal Reserve Affordability

Interviews On CNBC And Bloomberg TV: Discussing The Impact Of Historically Low Rates And The Outlook For The Housing Market And The Economy

By FirstAm Editor on August 23, 2019

First American Chief Economist Mark Fleming was interviewed on CNBC and Deputy Chief Economist Odeta Kushi on Bloomberg TV earlier this week and discussed the impact of historically low rates on the housing market, and what the Fed minutes indicate about the direction of rate policy and the economy.

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Topics: Housing In The News Interest Rates Federal Reserve Affordability

What Does Increasing Tenure Length Mean For The Housing Market?

By Mark Fleming on August 20, 2019

The housing market essentially reached its potential in July 2019, as actual existing-home sales were 0.05 percent above the market’s potential. Existing-home sales in 2019 are running at a pace similar to 2015, even though rates have fallen and household income has increased this year. Housing market potential benefitted from a 10.6 percent...

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Topics: Interest Rates Federal Reserve Homeownership Potential Home Sales