Economic Report – July 6, 2009
Market Review
►A LOOK BACK – Last week the June Non-Farm Payroll report showed a weaker than expected employment picture showing the economy is still laboring through a deep recessionary trough. The national jobless rate increased to 9.5% and now stands at the highest level since 1983.
►WHAT’S AHEAD – This week will have 4 Treasury auctions on Monday through Thursday for a total of $73 billion. While the last auctions drew solid demand from domestic and foreign investors it is important to note that the term of the securities were notably shorter than those offered this week. Mortgage rates will take it’s directional cues from the results of the four-part Treasury auction schedule and from trading action in the stock market.
Greg Burkett
Preferred Home Loan, Ltd.
281/657-0472 x 301 (Office)
713/906-2883 (Cell)
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
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