The good and the bad news this week: Lots of economic news. Most importantly, the Fed Board of Governors had decided that they would continue to buy bonds (QE3) for 12 more months at $85 billion a month. This is what has been keeping rates down.
Other economic news looks flat.
Tuesday the PPI (producer price index) was flat and the Consumer Price index (what you and I pay for goods) rose by .2%, but was trumped by the fed announcement.
The Consumer Confidence Index had the biggest drop since January. Since bad economic news is good for rates, this should have pushed rates down further. But it didn’t last long because of the Fed. So the bad news was wiped out by the good news, and rates edged up slightly.
FREE 1031 Exchange Seminar November 14th 630-9pm, light refreshments will be served. Put this in your tool box for more sales and better client advocacy.
Event held at: Waddell and Reed, 3625 Del Amo Blvd., Suite 360, Torrance, CA 90503
Contact me to RSVP.
Sponsored by myself and Exeter 1031.
Athena Paquette