Treasuries are up this morning as market participants speculate this week’s manufacturing report will show that growth slowed in September. This week’s key economic reports include Tuesday’s July S&P home price index and September’s Consumer Confidence, unemployment and GDP numbers on Thursday, along with Friday’s ISM manufacturing index.
A great article in the Wall Street Journal Blog yesterday explains how qualifying for larger loans might get more difficult in the next few months.
Treasuries and mortgage bonds have dropped this morning as a report showed that orders for durable goods increased in August by more than expected. This is leading some investors to believe that this will discourage the Federal Reserve from boosting it’s purchase of U.S. debt.
The market is lower this morning compared to yesterday. There was an initial rally thanks to a worse than expected weekly initial unemployment claims report. However, that was offset by a better than expected August Existing Home Sales report. It was expected to show an increase of +7.1% to 4.1 million. The actual numbers showed an increase of +7.6% to 4.13 million.
Yesterday, the market rallied after the Fed reported that they were prepared to increase purchases of treasuries in order to boost the economy. This morning the market is opening up flat. In economic news, the July house price index is expected to show a .2 percent decline adding to the decline seen the month prior.
In this week’s Watch-It Wednesday, Allison Snell discusses the Making Home Affordable plan and how Americans have found mortgage relief via loan modification and refinance programs.
Read more about David Ning here or check out his website at:
Treasuries and mortgage bonds are slightly higher this morning ahead of this afternoon’s highly anticipated FOMC meeting. The consensus is that the Fed will leave the Fed Funds rate unchanged. However, there are differing opinions regarding what will be included in the Fed’s statement. The big question is whether the Fed will expand its asset purchases to futher stimulate the struggling economy.
Is it the right time to buy or refinance a home with a VA Loan? We look at the personal and finance reasons that service men and women find themselves struggling with in today’s market.
Throwing an outdoor party this fall is the perfect way to catch up with friends and family, as well as meet some new neighbors. Check out our tips for making your next party a success!