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Markets in a Minute – 9/5/2014

For the Week Ending September 5, 2014
Please enjoy this quick update on what’s happening this week in the housing and financial markets.


If the August employment report follows the lead of lower than expected private job growth, the news could be bad for labor but good for rates.
Two positive manufacturing reports may portend a strong Q3 GDP. Economic improvements could eventually lead to higher rates.
The latest Fed commentary describes economic growth as moderate. Consumer spending and job growth are modest. The taper will likely continue on schedule.

After a June dip, construction spending rebounded in July to its highest level since 2008. An increase in supply could moderate prices but increase sales.
July saw home prices moderating and declining slightly in a few markets. The overall market may be returning to a better balance between buyers and sellers.
A Harvard/AARP report discusses a need for more accessible, affordable homes with access to transportation for members of the growing senior population.

Chuck bought a donkey for $100. The farmer agreed to deliver it the next day, but when he arrived, he reported that the donkey had died. Chuck asked for a refund, but the farmer had already spent the money.

That’s fine,” said Chuck, “Just bring me the dead donkey.”

When pressured for a reason, Chuck responded that he would raffle the donkey off.

“You can’t raffle off a dead donkey!” exclaimed the farmer.

“Sure I can,” said Chuck. “I just won’t tell anybody he’s dead.”

A month later, the farmer asked Chuck about the donkey.

“I raffled him off,” Chuck said. “I sold 500 tickets for $2 each.”

“Didn’t anyone complain?” asked the farmer.

“Just the guy who won,” said Chuck, “so I gave him his $2 back.”

 

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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