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NWQWM Morning Financial Report

Home prices increased 19.8% in February year over year, according to the S&P CoreLogic Case-Shiller national home price index. That is up from the 19.1% annual increase in January and is the third-highest reading in the index’s 35-year history.  Sun Belt cities continued to see the highest gains. Phoenix, Tampa, and Miami saw annual home price gains of 32.9% 32.6% and 29.7%, respectively. All 20 cities reported higher price increases in the year ending February 2022 versus the year ending January 2022.  Minneapolis, New York and Washington, D.C., saw the smallest price gains, although they were still in the double digits.

 

U.S. consumer confidence dampened slightly in April but remains high even as inflation continues to cloud their optimism about the rest of the year. The Conference Board said that their consumer confidence index — which takes into account consumers’ assessment of current conditions and their outlook for the future — edged down in April, from March.

 

More workers may soon be able to stake some of their 401(k) retirement savings to bitcoin, as cryptocurrencies crack even deeper into the mainstream.  Retirement giant Fidelity said that they launched a way for workers to put some of their 401(k) savings and contributions directly in bitcoin, potentially up to 20%, all from the account’s main menu of investment options. Fidelity said they are the first in the industry to allow such investments without having to go through a separate brokerage window, and it’s already signed up one employer that will add the offering to its plan later this year.

 

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