Markets In A Minute

Markets In A Minute

Dated: 09/26/2014

Views: 1235

September 26, 2014

After last week's plunge, jobless claims rose less than expected this week. Labor is key to Fed decisions, and low unemployment can lead to higher rates.
Rates are still settling after anticipation for and reaction to last week's Fed announcements. Still, they remain in the narrow range seen in most of 2014.
Three separate reports show growing strength in the U.S. manufacturing industry. As the economy continues to strengthen, rates could increase.
New home sales surprised with an 18% climb in August. Sales hit the highest level since May 2008. New home sales account for about 10% of the market. 
In contrast, August's existing home sales fell slightly. Overall they continued the summer's steady pace. Rising prices may be pushing investors out of the market.
Housing confidence is at its highest level since January. Of the groups surveyed, millennial renters are the most confident in their future ability to own a home.
A man walks into a New York City bank and says he wants to borrow $2,000 for three weeks. The loan officer asks him what kind of collateral he has. The man says "I've got a Rolls Royce. Keep it until the loan is paid off."The loan officer promptly has the car driven into the bank's underground parking for safe keeping and gives the man $2,000.Three weeks later the man comes into the bank, pays back the $2,000 loan, plus $10 interest, and regains possession of the Rolls Royce. The loan officer asks him, "Sir, if I may ask, why would a man who drives a Rolls Royce need to borrow two thousand dollars?"The man answers, "I had to go to Europe for three weeks, and where else could I store a Rolls Royce that long for ten dollars?"

  Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.

Latest Blog Posts

What Is Dual Agency And Is It Legal

Dual agency is legal, but do you want to use a real estate agent that will do dual agency? There are many buyers and sellers who think this practice will save them money by using ONE agent

Read More

Is The New Contract A Big Deal

New Contract? What’s The Big Deal?If Your Agent Doesn't Understand the Changes, It Is A Big Deal...So you’ve decided it’s time to get off the fence and purchase a home!  For some, it

Read More

If You Are Not A Used Car Person Why Get A Used House If You Dont Have To

  As an appreciator of all things automotive, I enjoy having conversations about the next new car or truck coming out and all the latest greatest features that will accompany it. While there

Read More

What Is Escrow

When buying or selling a home many people do not understand what escrow means or how it works.  Here is some helpful information on the meaning of escrow.  Thanks to First Arizona Title

Read More