Market Review

►A LOOK BACK – Last week the Treasury auctions of a record $104 billion received solid demand from both domestic and foreign investors which was surprisingly good news. The FOMC met and left the benchmark fed funds rate unchanged at zero percent and said that conditions warrant exceptionally low rates for months to come. They did not expand their direct purchase program for Treasury debt obligations and mortgage-backed securities as many investors had hoped. The May Personal Income and Spending report showed that inflation at the consumer level remains very low.

►WHAT’S AHEAD – This holiday shortened week has the June Non-farm Payroll report schedule for release on Thursday. The payroll data has shown a declining number of job losses in the past 4 months. Also on Thursday is the initial jobless claims for the past week – this is a more volatile number but it has been stubbornly high for the past several weeks.

For more information about real estate issues in Katy or West Houston contact Steve Reddell. He is a licensed REMAX real estate agent in Katy, Texas you can trust. You can contact him directly at 281-994-5173 or visit him on the web at Katy Family Homes.

Filed under: Economy/Market, Lenders