Weekly Market Forecast
Posted by irpmi on July 10, 2007
Week of: Monday, July 09, 2007
Present Market Conditions
The Labor Department reported on Friday the U.S. economy continued to add jobs at an appreciable pace in June. The report suggested the economy is doing well, with employment gains widespread across industries and specifically strong hiring in health care and government. Both April and May’s employment gains were revised considerably higher, suggesting labor market conditions remain very supportive of economic activity to this point in the year. The unemployment rate remained a low 4.5 percent and workers saw solid gains in their wages.
Expectations
As reported by Brian Blackstone of the Dow Jones Newswires, “The jobs data also suggest the Fed’s steady interest-rate stance – which hit the one-year mark last week – will extend at least until the end of 2007, if not longer. And the payroll figures appear to confirm the Fed’s view that economic conditions have brightened while inflation remains the primary risk.”
Guidance
It has been said that as long as consumers are working, they’ll keep spending. With long-term mortgage rates moving lower for the third consecutive week and an abundance of both homes and incentives to purchase these homes available, this is absolutely the time to be in the buyers market. Consulting with Georgie will ensure every real estate transaction meets your financial needs.
Authored by Georgie Cook
Traverse Mortgage Corporation
(231) 947-9700
(800) 968-3680
georgie@traversemortgage.com
