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Overseas economic
concerns are helping to keep rates low. Weakness in Europe and China is
causing traders to seek safety in bonds, including mortgage bonds.
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Rates responded
favorably to the Fed's decision last week not to raise policy rates. Concerns
about global economies may help rates remain low this week.
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Global economies are
also affecting the U.S. manufacturing industry. Demand for durable goods was
slightly weaker in August, helping to keep inflation low.
Beautiful day to the bike to the bay....
 Bike MS: Bike to the Bay is a Delaware tradition. It is occurring this weekend 9/26 - 9/27. Bikers will enjoy a 2 day cycling journey through southern Delaware. Different route options are available for bikers of different energy and skill level, the routes range from 17-175 miles. Rest stops, bike mechanics, meals, and support vehicles are all on route for the bikers. The bikers will cross the finish line feeling great welcomed by friends and family, great food, music, and massages. For more information on the event check out their website. Bike MS |
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Rents continue to
rise nationally, making home ownership more affordable in comparison. However
higher rents drive inflation, which could hurt rates.
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August's existing
home sales fell slightly, with lack of inventory cited as a possible cause.
Rising prices may also be pushing some potential buyers out of the market.
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New home sales
increased in August at the highest rate since February 2008. Strong demand
for new homes continues to fuel builder expectations and the economy.
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