The Weekly Wrap Up - Hurricane Joaquin is on its way

Both personal income and consumer spending increased in August, signaling continued economic growth. Higher income also helps support the housing market.

Consumer confidence rose in September, with consumers also optimistic about jobs. An improved labor market could lead to higher rates.

Alternatively, global economic weakness and low inflation in the U.S. are causing concern in the markets. Both factors could mean continued low rates.

Hurricane Joaquin is making its way to the East Coast!

According to the latest weather report, the forecast for us east coasters is looking increasingly wet.   The storm has strengthened over the last 48 hours from a tropical storm to a category 4 storm.  Joaquin may directly or indirectly affect the East Coast this weekend.  While landfall is still possible, the possibility of that is diminishing.  While we may not get slammed by Joaquin as much as the Bahamas, it is looking like those of us in Delaware, Maryland, and Pennsylvania will not be spared from rainfall. and high winds.  Weather reporters are looking at the differences and similarities with Hurricane Joaquin and Hurricane Sandy.  Time will tell! And as it does, everyone stay safe and dry!  Get more updated details here!

Pending home sales were down slightly in August. While demand is still high, rising home prices and tight supply of homes for sale were blamed for the decline.

Good for sellers: July's home prices rose 5% year-over-year in Case-Shiller's 20-City Index. Rising prices support observations of high demand for housing.

Construction spending increased in August for the 9th straight month. Residential construction spending jumped 1.3% to the highest level since January 2008.