Market In A Minute

Market In A Minute

The Fed voted not to raise policy rates at this week's meeting, but did leave the door open for a hike before the end of the year. Odds currently favor December.
Stocks rallied on the news, hitting new highs. Bonds also improved, which is supportive of lower mortgage rates or better loan pricing.
The labor market remains strong, with jobless claims dropping to a two-month low. A strong labor market could play into the Fed's decision to raise rates this year. 

Home builders are showing the strongest confidence in the housing market in 11 months, prompted by a surge in interest in new homes following a summer lull.
New housing starts were down slightly in August after two months of increases. However, building permits were up, suggesting a rebound in the coming months.
Housing inventory remains tight, although demand is strong. Home prices were up 0.5% from June to July, according to the Federal Home Finance Agency.

Source: Alan Polson, New Penn Financial, LLC, 9/2016


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Phone: 480-251-0280
Dated: September 24th 2016
Views: 231
About Matt: Matt has been a licensed Real Estate Broker since 2003 and with American AllStar Realty since 2005. ...

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Matt Pennington
6642 E Baseline Rd Ste 101
Mesa, AZ
480-251-0280