Morning Minute: Latest Beige Book finds economy continued to grow in October and early November

The U.S. economy saw modest to moderate growth in October and early November and in the Federal Reserve district that includes Chicago, the construction and real estate sectors also had positive gains, according to the Federal Reserve’s latest Beige Book report.

Residential home prices, sales and rents rose and while inventories remain low, there are expectations that rising home prices will prompt more potential sellers to put their homes on the market. Commercial real estate activity was up due in part to increased retail leasing and demand for residential construction grew slightly. Read the report for the Seventh District – Chicago for more details.

In other headlines:

How the Fed compiles the Beige Book, at a glance – Quincy Herald Whig

New-home sales surge 25% in October – CNN Money

Mortgage servicers to face more scrutiny -Chicago Tribune

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