Took a look at some information in the last few days and found this information you all would find useful:
• Stock market went on a wild ride this week. After posting gains on the back of a strong industrial production report, markets were set to end the week down at 2pm on Friday afternoon.
• The Federal Reserve’s senior loan officer survey indicates that the supply and demand for credit appears to be improving, albeit gradually.
• U.S. Industrial Production numbers surpassed expectations, expanding by 1.0% in July.
• Yet housing disappointed as new starts inched up to 546K units and building permits fell to 565K.
• Initial jobless claims rose to 500K. This does not bode well as the reported data corresponds with the reference week for the August payrolls report.
• CPI data released this morning indicated a 0.6% increase in all-items consumer prices on a month-over-month basis. On a year-over-year basis, inflation increased from 1.0% to 1.8%.
• Data was heavily skewed by the implementation of the harmonized sales tax (HST) in British Columbia and Ontario and a 2 percentage point increase in Nova Scotia’s HST. Year-over-year headline inflation increased from 1.6% to 2.9% in Ontario, from 0.5% to 2% in BC, and from 0.7% to 1.7% in Nova Scotia.
• The housing market, which has already begun to trend downward, has been particularly impacted by the HST implementation as BC and Ontario are Canada’s two largest housing markets.
• Existing home purchases are not subject to HST, though related services are, but created a false sense of urgency that resulted in outsized declines in home sales in Ontario and BC in recent months. This, in turn, drove nationwide home sales downwards.
• This temporary factor aside, the housing market is expected to contract throughout the remainder of 2010 and into 2011 as demand dwindles and interest rates continue to rise.
Keep in mind mortgage rates and the real estate market are affected by an assortment of factors. Besides thisd my firm is offering some good mortgage options:
1 Year Fixed 2.44%…2 Year Fixed 3.09%…3 Year Fixed 2.79%…4 Year Fixed 3.79%…Best 5 Year Fixed 3.55… Buy a home thorugh my firms realtor associates and get 5 year fixed for 3.44%.
If you are looking for an Adjustable Rate Mortgage then Prime – .75% is a good one for your mortgage needs.
As always my firm is here for your needs and if there any question feel free to contact me by phone at 1-877-431-6662 ext.1 or email me at firstname.lastname@example.org or even go to my website to get all the mortgage and real estate information you need at www.networthmortgage.com. I hope you have a great day.