Archive for August, 2009
Wednesday, August 26th, 2009
Data suggesting that the economy is experiencing a broad-based rebound continues to pile in this week, most recently in the housing market. New Home Sales advanced by 9.6% in July, hammering expectations for a 5% increase and following up on a 9.1% advance in the prior month.
July marks the fourth ...
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Wednesday, August 26th, 2009
Average rates for a 30-year mortgage moved upwards last week, but demand for loans ― refinancing or otherwise ― as well as purchases, continued to increase, providing further confirmation that the housing market is stabilizing.
The Mortgage Bankers Association (MBA) said interest rates for a 30-year loan moved up 9 basis ...
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Wednesday, August 26th, 2009
Investor sentiment is cautious ahead of the Durable Goods release at 8:30 and the New Home Sales report at 10:00. Equity futures are looking slightly downward, with the S&P 500 down 3 points to 1,023, more than erasing yesterday’s modest 2.4-point gain.
Both data reports are expected to bring good news. ...
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Tuesday, August 25th, 2009
Consumer confidence is improving and home prices are actually increasing, leading markets to push higher on Tuesday as investors feel more confident that the economy could experience a broad-based rebound.
At the 2-hour market in today’s session, the Dow is trading 0.83% higher at 9,588, while the S&P 500 is ...
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Tuesday, August 25th, 2009
The National Association of Home Builders has closed its office for the entire week in an effort to cut expenses. The organization will also take an extended holiday during the entire week of Thanksgiving according to a press release on its website....(read more)
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Tuesday, August 25th, 2009
A bill currently before the House Ways and Means Committee would both extend the $8000 tax credit offered to first-time homebuyers beyond its current expiration date and allow virtually all homebuyers to take advantage of it. ...(read more)
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Tuesday, August 25th, 2009
Home prices across the United States are beginning the process of stabilization, according to an industry survey that found price declines moderating at a quicker pace than expected in June.
The S&P Case-Shiller Home Price Index said its survey of 20 metropolitan cities found prices moving upwards for the second consecutive ...
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Tuesday, August 25th, 2009
The big headline this morning is that President Obama plans to keep Ben Bernanke as chairman of the Federal Reserve. “Mr. Obama's decision had become a subject of growing speculation and uncertainty in financial markets and in Washington policy circles,” according to the Wall Street Journal, who said Obama will ...
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Monday, August 24th, 2009
With Japan’s Nikkei index posting its biggest one-day gain in more than three months, US equities opened higher on Monday and then extended those gains to new 2009 highs. Approaching 11:30, the S&P 500 is building on its 2.2% gain last week by trading 0.88% higher at 1,035 ― its ...
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Monday, August 24th, 2009
The week is beginning on a global wave of optimism with equities across Asia climbing, partly in response to Friday’s US existing home sales report, which trounced expectations with a 7.2% gain in July. Earlier today in Japan, the Nikkei 225 jumped 3.35% ― its biggest one-day gain since May ...
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