Rates creep up, but demand remains strong! {Market Report} September 24th

I remember years ago when all I wanted is to be older. I was wrong!!

Chocolate doesn’t ask silly questions, chocolate understands.

I don’t know how to act my age because I’ve never been this old before.

The best way to show a giraffe your love is to knit a scarf for it.

Now The Market Report . . .

Mortgage rates crept up this week to the highest levels since May. Market indicators and analysis suggest they will not fall any time soon.

Consumer sentiment rose to a 17-year high last week. Confidence improved as consumers grow more optimistic about the economy and their personal finances.

The labor market also continues to show strength and is considered at or near full employment. Unemployment filings for last week fell to a near 49-year low.

Home builder sentiment rose unexpectedly in September to its strongest level in 11 months, prompted by renewed interest in purchases following a summer lull.

Housing starts rose in August, boosted by a jump in multifamily construction and a rise in single-family homebuilding. Building permits, however, fell slightly.

Existing home sales were unchanged in August, following 4 months of declines. Supply continues to be an issue, although demand remains strong.

I just got a job as a senior director at Old McDonald’s Farm. I’m the CIEIO.

This week’s potential market moving reports are:

Monday, September 24th:           Chicago Fed National Activity Index

Tuesday, September 25th:          Case-Shiller Home Price Index, Consumer Confidence

Wednesday, September 26th:     New Home Sales, MBA Applications, Fed Announcement

Thursday, September 27th:         Pending Home Sales, First Time Jobless Claims

Friday, September 28th:              Consumer Sentiment, Core Inflation

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