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Big rate shift! {Market Report} April 1st

Big rate shift! {Market Report} April 1st
April 1, 2019 abryant

 

 

I exercise…I don’t use the drive through and jog into McDonald’s.

Life begins at 40 – but so do fallen arches, rheumatism, faulty eyesight, and the tendency to tell a story to the same person, three or four times.

We have become incredibly impatient. Someone once said that the shortest period of time, is the time between when the light turns green and when you hear the first horn honk.

If life was fair, Elvis would be alive and all the impersonators would be gone.

Knowledge is knowing a tomato is a fruit; wisdom is not putting it in a fruit salad.

 

Now The Market Report . . .

 

Global economic concerns have sent bond prices soaring this week as investors move to safety. Improved bond prices have helped bring mortgage rates lower.

The 4th quarter GDP number was reduced from 2.6% to 2.2%, signaling economic growth slowed even more than was initially reported.

Consumer confidence slumped in March, missing forecasts. This was the 4th decline in 5 months and could contribute to slowing the economy.

 

Housing starts fell 8.7% in February, the most in 8 months. Construction of single-family homes dropped to more than a 1-1/2-year low.

Home prices, however, continued to rise in January. Nationally, prices rose 4.3% year-over-year, which is near the long-term average pace.

Despite lower mortgage rates, pending home sales dropped 1% in February compared with January. Further rate drops in March could bring more sales.

 

“There is nothing so useless as doing efficiently that which should not be done at all.”

Peter Drucker

 

This week’s potential market moving reports are:

 

Monday, April 1st:           Retail Sales, Construction Spending, ISM Manufacturing Index

Tuesday, April 2nd:         Durable Goods Orders

Wednesday, April 3rd:     MBA Mortgage Applications, ADP Employment Report

Thursday, April 4th:         First Time Jobless Claims

Friday, April 5th:              National Employment Situation

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