Friday, August 11, 2017
Georgia Residential Mortgage Broker
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The "war of words" continued yesterday between North Korea and the U.S. sending global markets in a downward spiral. U.S. equities had one of its worst days since May and one of the worst days of the year, with the S&P losing 1.5% to 2438.25 the DJIA losing over 200 points ending the day at 21844.01. Although markets have been tumbling these last three days, it still seems a nuclear issue is not being fully priced in, giving many hope that tensions may be walked backed. Safety trades saw gains including gold which hit a two month high advancing 0.2% to $1,288.72 an ounce. Oil fell 1% to $48.12 a barrel.
In economic news, Thursday's jobless claims showed a slight increase for last week, inching to 244K. Jobless claims is at some of the lowest levels in 40 years yet businesses continue to be conservative in hiring and training because of the costs associated. In addition, U.S. wholesale prices decreased in July, signaling inflation may remain subdued. Today's CPI print has been much anticipated, with hopes the number will give some insight into the Fed's inflationary challenge. A 0.2% increase in CPI is estimated for the July print, versus the unchanged reading in June; any misses may have important policy impacts. Dallas Fed President Robert Kaplan and Minneapolis Fed President Neel Kashkari both speak today.
*taken from FNMA research
Southern Equity Mortgage Services, has been assisting clients with mortgage financing since 2005. As the owner/operator - William Curis, I'm committed to you the customer, from the start in providing accurate quotes to locking in the most competitive rate/cost and finally making sure the funds are there when you close the loan. I'm available 24/7 so call/email or text me @ 678-523-1021.
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