Market Wrap Up
I thought I would share this report.....
Please enjoy this quick update on what’s happening this week in the housing and financial markets. To share with your database, please use this online version or forward this email. I hope you have a great weekend!
-Michael
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| First quarter GDP numbers showed a stagnant economy. Rates moved lower initially to take back earlier increases. |
| The Fed's April meeting brings no surprises or policy changes. Bond market/rate relief was probably more a result of the GDP report, but the Fed news didn't hurt. |
| The Fed's comment boosted the stock market's climb to its highest-ever level. While not evident yet, this can incite higher rates. |
| Pending home sales rose in March for the first time in nine months. |
| The ever important jobs report is released on Friday. Borrowers need steady employment. Improvement here will continue to fuel housing recovery. |
| So long hot tubs, hello energy efficient windows and high density insulation. Remodelers report "green" projects are leading the trend. |
A big, burly man visited the minister's wife, who was well known for her charitable impulses. "Madam," he said in a broken voice, "I wish to draw your attention to the terrible plight of a poor family in this district. The father is dead, the mother is too ill to work, and the nine children are starving. They are about to be turned into the cold, empty streets unless someone pays their rent, which amounts to $400."
"How terrible!" exclaimed the preacher's wife. "May I ask who you are?"
The sympathetic visitor applied his handkerchief to his eyes. "I'm the landlord."
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