Here is this week’s edition of "News You can Use" with Boomer Foster. He is president of our company gives a very brief observation of the Financial and Real Estate Markets. Enjoy.
Summary of topics below:
Good afternoon, in this week's video:
Economic News [00:10]
- The Dow finished up almost 1.5% on the back of some
negative economic indicators.
- On Tuesday & Wednesday, the Fed Chief will testify
before Congress. We hope to get some clue as to the Fed’s intentions to
raise rates from that testimony.
- On Friday, February employment numbers will be
released.
- 30-year fixed rates went up for the fourth week in a
row, from 6.45% to 6.65%.
Industry News [01:54]
- Closed sales were down 40.7 % year over year. Remember,
last year at this time, the market was still pretty hot.
- New Pending's were down 24.6% year over year, but up 6.5% week over week.
- Showings were down 28.4% year over year, but up 5.7% week over week.
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