Moore Mortgage Solutions

    This week several important monthly reports are being released along with the various boards members of the Federal Reserve Board speaking. Comments from these boards member can sometimes move the market.

    Case in point, New York Vice Chairman Donald Kohn spoke about how the Federal Reserve needs to be flexible as well as needs to “foster both price stability and full employment.”

    These comments have caused the market to interpret this to mean that there may be an additional cut in the Fed Fund Rate. Both the bond and stock markets are moving higher in response to Kohn’s comments.

    Other reports released today were the Durable Goods and the Existing Home Sales for October. Durable Goods was reported lower than expected and is good news for the bond market.

    Existing Home Sales has dropped to their lowest levels since 1999 across the country.

    The Seattle market is still doing well overall. Though appreciation is down from prior years, we are still in a good market. And this is still a good time to buy a home. Inventories are higher which means you have a wider selection of homes to choose from and interest rates are still low.

    Over the next two days, there will be three other reports being released that can move the market. They are the GDP Chain Deflator, the Personal Consumption Expenditures (PCE) and the PCE.

    If any of these reports come in hotter than expected, I will be sure to update.

    Until then, make every day an inspired day!

Betsy Moore

betsy@mooremortgagesolutions.com