Here’s a local Panama City Mortgage Update from one of our principle lenders Jackie, at Regions Mortgage
Market Update Week Ending August 26, 2011
It was another volatile week for mortgage rates. The primary factors influencing rates roughly offset each other, though, and mortgage rates ended the week just a little higher.
A wide range of economic news caused investors to either add or reduce risk at a rapid pace this week. News which generally encouraged increased exposure to risky assets helped stocks and hurt mortgage rates early in the week, while the opposite took place later in the week. Mixed US economic data, continued concerns about European debt, a highly anticipated speech from Fed Chief Bernanke, and uncertainty about the impact of Hurricane Irene all contributed to the daily volatility.
In Friday’s speech, Fed Chief Bernanke gave no hint of any change in Fed policy, disappointing some investors hoping for looser monetary conditions. He stated that at its September meeting the Fed will consider whether additional monetary stimulus measures are called for, but that fiscal policy changes by lawmakers are needed to help the economy and the labor market. Following the speech, the consensus view is that the Fed is unlikely to make significant policy changes for a while.
Also Notable:
* Second quarter GDP was revised lower from 1.3% to 1.0%
* Continuing Jobless Claims fell to the lowest level since September 2008
* Moody’s downgraded the credit rating of Japan’s government debt
* The Fed’s Hoenig said that he doesn’t expect a double-dip recession in the USThe biggest economic report next week will be the important Employment data on Friday. As usual, this data on the number of jobs, the Unemployment Rate, and wage inflation will be the most highly anticipated economic data of the month. Before the employment data, Pending Home Sales, Core PCE inflation, and Personal Income will be released on Monday. Chicago PMI Manufacturing and ADP Employment will come out on Wednesday. ISM Manufacturing, Construction Spending, and Productivity are scheduled for Thursday. Factory Orders and Consumer Confidence will round out a busy week.
Panama City Beach Homes for sale
Owners, put my technology to work for you. If you are interested in selling your home or condo, contact me today (850) 774-6582 for a free no obligation Home value report.
Buyers, when you’re ready to purchase a Panama City Beach Gulf or Bay front condo for your vacation home, contact me directly (850) 774-6582 for the latest information and pricing on any of the Panama City Beach homes sale.
Jennifer Mackay
850-774-6582
Panama City Real Estate | Florida
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