This past week was one of President Obama speaking about Health Care and Bernanke, and Geithner reporting to Congress about the economy and banking reform.
The GDP reading was as exepcted but looking at the numbers especially consumer spending was which worse than 3rd Quarter 2009 when we had Cash for Clunkers.
Also Existing Housing Sales were down again but most likely due to the freezing weather and one on top of another snowstorm. Hopefully, we will see an improvement in this next month but don’t look for much of one since we have been dealing with bad weather in the East.
This coming week will be one filled with economic reports. And we start the week right off with Personal Income and Spending as well as Core Personal Consumption Expenditure on Monday. Tuesday we have a quiet day then we go back at it on Wednesday, Thursday and Friday. And Friday ends with the Jobs Report numbers.
The Jobs Report includes the unemployment rate as well as weekly hours work and hourly wages. With productivity at almost at the peak, it will be interesting to see what this brings.
As always you can read about this in more detail as well as an interesting article on Tips to being a Successful Landlord in this week’s MMG Weekly.
You can also check out the Daily Rate Lock Advisory each day. This report normally comes out around 10am.
And as always, I will report daily on twitter @mmtgsolutions on the mortgage interest rates and what to expect for the day. If one of these reports moves the market in a significant manner, I’ll write about it here.
Please remember, I welcome your comments to this and my other posts.
To an inspiring week,
Betsy Moore
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