Tuesday, May 5, 2009

redding Real Estate and Financial Conditions

Market Outlook


Positive economic data is helping push stocks higher this morning. Bonds have not suffered to badly as a result and are fairly close to where they closed on Friday. Construction spending rose in March as more industrial and government projects got underway. We can expect this metric to continue to rise as government infrastructure projects that were part of the most recent stimulus bill get going.

Pending Home Sales also far exceeded expectations causing more speculation that the 4 year housing decline may be coming to an end.

Price Trend: Neutral

Price Volatility: Moderate

Rates for Conforming 30 Year Fixed are 4.375% - 5.00%, FHA 30 Year Conforming is running 4.50% - 5.25% and USDA 30 Year Fixed is running 4.625% - 5.75%. Make it a great week!

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