Weekly Wrap Up | What Happened to the Mortgage Rates this Week?
July 31, 2009
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"The Weekly Wrap Up" Presented by Jason Wheeler Just a quick note to update you on what happen with rates this week. It’s still a phenomal time to enter the Real Estate market or get invovled with some investments. Home purchases are up for the third month in a row. We won’t be in the office this weekend we’ll be getting away up to lovely Lake Tahoe. Check below for news on rates and Real Estate Investment Networking Events next week! Here we are wraping up Friday 7/31/2009 rates were basicly flat all week with a sharp dip this morning. If you had a chance to lock in a rate today the timing was perfect. The new supposed Bull Market in stocks was strongly driven by great earnings all week. Let’s hope that they can keep it up. You can look at weekly trends Here. July 31 (Bloomberg) — The U.S. economy shrank at a slower pace in the second quarter, a sign the worst recession since the Great Depression is winding down. Gross domestic product contracted at a less-than-projected 1 percent annual rate after shrinking 6.4 percent in the prior three months, the most in 27 years. Commerce Department figures showed today in Washington. Revisions showed the economic downturn last year was even deeper than previously estimated. Profits at companies from Caterpillar Inc. to Dow Chemical Co. signal the slump is easing as government efforts to revive lending and President Barack Obama’s stimulus gain traction. Consumer spending, which accounts for 70 percent of the economy, may take time to recover as job losses mount, eroding the growth analysts anticipate will start this quarter.
Until Next time Here is to your success! Jason Wheeler 925-285-2172
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