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NOTE: At the time of this writing, the Fed announcement is
still pending. Here are the factors that may have influence in their
decision.
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Consumers showed confidence by spending, as retail sales
improved in August. Increases in spending could help the Fed decide to raise
policy rates this week.
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Fewer new applications for unemployment this week also
evidence economic strength. Jobless claims fell to the lowest level in eight
weeks.
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Whatever the Fed decides to do regarding policy rates this
month, market volatility is expected to follow. Mortgage rates should remain
relatively stable though.
Start your engine and drive down to the car show!!
 If you have some time this Sunday, check out the fun at the Hagley museum! There will be over 500 antique and restored cars from the early 1990s-1980s for you to browse. There will also be vehicle parades, music, video, and go-kart racing, and a food court for you and your family to enjoy. Tickets have been available in advance but are also available at the door. Tickets purchased at the Car Show are $10 for adults, $5 for kids 6-14, kids under 5 are free. Hagley members are also eligible for free admissions. |
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New housing starts remained above a one million-unit pace for
the fifth straight month. Strong demand for housing continues to require more
new home building.
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Building permits increased 3.5% in August, signaling that more
new homes will be built in the future. Single family permits rose to highest
levels since January 2008.
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Homebuilder sentiment is at a 10-year high. Strong demand for
new homes continues to be fueled by a strong labor market and low mortgage
rates.
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