Information received since the Federal Open Market Committee met in August indicates that economic growth remains slow. Recent indicators point to continuing weakness in overall labor market conditions, and the unemployment rate remains elevated. Household spending has been increasing at only a modest pace in recent months despite some recovery in sales of motor vehicles as supply-chain disruptions eased. Investment in nonresidential structures is still weak, and the housing sector remains depressed. However, business investment in equipment and software continues to expand. Inflation appears to have moderated since earlier in the year as prices of energy and some commodities have declined from their peaks. Longer-term inflation expectations have remained stable.

Sincerely,

Ryan P. McDonough - Licensed Loan Officer

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MARKET NEWS
09/26/2011
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European debt worries continue to bog down market optimism, as treasury prices saw large gains last week. The Fed's announcement of "Operation Twist" was largely expected last week. The fact that the fed openly admitted that we may be headed for… more
MARKET COMMENTARY
09/22/2011
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Treasury prices soared yesterday and this morning as news of the Fed's plan to sell $400 billion of shorter-term debt and buying $400 billion of longer-term debt. The goal of "Operation Twist" is to put downward pressure on long-term interest rates… more
MARKET COMMENTARY
09/20/2011
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Italy is the newest target of a Standard and Poors credit rating downgrade. S&P cited weak economic growth, a fragile government, and rising borrowing costs as reasons they believe reducing the second largest debt in Europe will be very… more
THE WEEK AHEAD
09/17/2011
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The biggest economic news next week will be Wednesday's Fed announcement. Fed officials are divided about whether to ease monetary policy further and investors will be very eager to hear the decision. The Economic Calendar will be light. Housing… more
CENTRAL BANKS AID EUROPEAN BANKS
09/17/2011
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Investors grew a little less concerned about Europe during the week, which was favorable for the stock market but negative for mortgage rates. This week's inflation data also was unfavorable for mortgage rates, and rates ended the week a little… more
MARKET COMMENTARY
09/16/2011
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Treasury prices fell yesterday as investors are gaining confidence that positive action willbe taken in Europe to stem their debt crisis. European Central Bank President Jean Claude Trichet told reporters, "It is essential all decisions to tackle… more
MARKET COMMENTARY
09/15/2011
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German and French leaders announced their continued commitment to keep Greece in the 17-nation Euro region. The implied future effort to contain the area's sovereign debt crisis helped the Dow record a gain, and help mortgage backed securities close… more
MARKET COMMENTARY
09/14/2011
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There is speculation China will buy bonds from debt stricken European nations, such as Greece, which eased the worries of investors and lessened demand for the safety of U. S. treasuries. Treasury Secretary Timothy Geitner will be attending Europe's… more
MARKET COMMENTARY
09/13/2011
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The U. S. government's $21 billion auction of benchmark securities brought treasury prices down slightly yesterday. It's looking more and more like Germany and other European powers are going to let Greece default on their debt, keeping investors… more
 
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RYAN MCDONOUGH LICENSED LOAN OFFICER

Scottsdale, AZ

More about me…

Amerifirst Financial, Inc.

Address: 15111 North Pima Road, #110, Scottsdale, AZ, 85260

Office Phone: (480) 339-1564

Cell Phone: (480) 206-6821

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