VikeSellsRedmond.com
Vike H., Broker Associate
16261 Redmond Way Redmond, WA 98052 | Direct: 206-501-5165 | Office: 425-883-0088 | Email: VikeH@Windermere.com
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As of May 7, 2008 (10:45 AM)
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Bond Market Update
Pending sales of existing homes fell 1% in March compared to the month earlier. Worker production rose 2.2% on an annual basis for the first quarter of this year.
The Institute of Supply Management reported April's non-manufacturing index rose to 52 from 49.6 in March. A reading above 50 indicates an expanding economy.
Employers cut 20,000 jobs in April while the economists had expected 70,000. The unemployment rate fell to 5%. Factory orders were up 1.4% in March.
Consumer spending was up 0.4% in March and construction spending was down 1.1%. The Institute of Supply Management index posted a reading of 48.6 for April and lastly initial jobless claims for the latest week increased 35,000 to 380,000.
Gross Domestic Product rose in the first quarter at 0.6%; personal spending rose by 1% while wages grew at a 0.7% pace.
Durable goods orders fell 0.3% in March reflecting the 3rd consecutive monthly decline. Sales of new homes were down 8.5% in March to reflect the lowest level in 16 1/2 years. Meanwhile the median price in March fell 13.3% compared to a year ago. This represents the steepest year over year decline since July 1970.
As of May 7, 2008 (10:45 AM)
Bond Market UpdatePending sales of existing homes fell 1% in March compared to the month earlier. Worker production rose 2.2% on an annual basis for the first quarter of this year.
The Institute of Supply Management reported April's non-manufacturing index rose to 52 from 49.6 in March. A reading above 50 indicates an expanding economy.
Employers cut 20,000 jobs in April while the economists had expected 70,000. The unemployment rate fell to 5%. Factory orders were up 1.4% in March.
Consumer spending was up 0.4% in March and construction spending was down 1.1%. The Institute of Supply Management index posted a reading of 48.6 for April and lastly initial jobless claims for the latest week increased 35,000 to 380,000.
Gross Domestic Product rose in the first quarter at 0.6%; personal spending rose by 1% while wages grew at a 0.7% pace.
Durable goods orders fell 0.3% in March reflecting the 3rd consecutive monthly decline. Sales of new homes were down 8.5% in March to reflect the lowest level in 16 1/2 years. Meanwhile the median price in March fell 13.3% compared to a year ago. This represents the steepest year over year decline since July 1970.
|
LOAN PROGRAM |
RATE |
FEE |
|
30 Yr Fixed (Conforming) |
6.000% |
0.125 |
|
Fixed Jumbo |
7.000% |
0.125 |
|
15 Yr Fixed (Conforming) |
5.625% |
0.000 |
|
Second |
8.750% |
0.000 |
Programs, rates, terms, and conditions are subject to change without notice.
Provided courtesy of usbancorp Mortgage Advisers LLC.
Intended for use by Windermere Real Estate.
Intended for use by Windermere Real Estate.
Home | About | Buyers | Sellers | Featured Listings | MLS Search | Relocation | Resources | Contact Us | Site Map
Email: VikeH@Windermere.com
