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Markets in a Minute – 9/19/2014

For the Week Ending September 19, 2014
Please enjoy this quick update on what’s happening this week in the housing and financial markets.

The Fed will continue its current course, ending quantitative easing next month. Plans are to keep policy rates low for a “considerable time.”
Fed Chair Yellen expressed concern regarding long-term unemployment and the number of part-time workers. Labor woes could delay rate increases.
Producer prices show little gain and consumer prices remain flat. Low inflation is generally good for rates.

Home builders are more optimistic in September. They report higher traffic and expect the same for pending sales.
Despite builder optimism, housing starts fell from July’s very strong performance. Starts are still above last year’s rate, following the trend of annual improvement.
Getting a mortgage may be easier than people think. Most believe a “very good” credit score is required, and almost half say a 20% down payment is needed.Note: Ask me about educational materials to help dispel these myths!

Mr. Smith was on his deathbed at Allegheny General Hospital and knew the end was near. His nurse, his wife, his daughter and two sons are with him. He asks for two witnesses to be present and a camcorder be in place to record his last wishes, and when all is ready he begins to speak:

My son, Bernie, I want you to take all the West End houses.
My daughter Sybil, you take the apartments over in the Bottoms and up toward Neville Island.
My son, Jamie, I want you to take the offices and apartments over in Neville Island and Coraopilis.
Sarah, my dear wife, please take all the residential buildings on the banks of the river between McKees Rocks and Coraopolis and up the valley toward the airport.

The nurse and witnesses are blown away as they did not realize his
extensive holdings, and as Doug slips away, the nurse says, Mrs. Smith, your husband must have been such a hard-working man to have accumulated all this property.
Sarah replies, Property ? …. the jerk had a paper route!

Courtesy of Donna Hobscheid, Hilgenberg Realty, Green Bay, WI

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.

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