Good morning to a changing economy,
September data is out and checking the headlines, one may pause to wonder, why are the numbers not as good as expected? Yet let’s not be too surprised.
Two specific markets have put a drag on the numbers. First: Companies tied to falling commodity prices, including oil and natural gas. The result in weaker profits than expected, with the employment data reflecting this reality. Second: American companies where sales are tied to the US dollar. Our stronger dollar means American products are less competitive, meaning lower profits, and thus lower employment.
At the same time, cost at the gas pump remains low, as should winter heating..
These numbers also helps explain why our Federal Reserve kept interest rates unchanged and why our lending rates have steadied and even trended lower.
Again the silver lining: It is a great time to refinance into these lower rates, especially if you have an adjustable rate. A fixed rate will not change over the life of the loan, thereby improving your budget and freeing up money for other uses. And what a great time to buy, as lower rates help to reduce the overall cost of buying your dream home
Such opportunities only come once in awhile – Please act now.
We have clients of ours, regularly getting into contract on the first try, with most writing less than 3 offers. This is good news and speaks to good preparation and great agents. Give us a call and let us start the conversation. It is a good season for buying.
Your time is valuable and we value you and your time.
As a sidelight, new rules– meant to benefit you – are now in place. Please be sure to ask about them when we talk.
Your future begins now, so please don’t be left on the sidelines. Let our knowledge and experience help you achieve your goals, today.
Be well and thank you for your referrals. We remain,