Happy Friday y’all,
today will be a brief update. Not a whole lotta activity eco-wise at the Wall today, except for typical buying and selling of stocks and bonds. Kind of ho hum, but I ain’t complaining, it’s allowing me to play catch up. Been out of office for almost a week, much to the chagrin of the BawldGuy I’m sure :) but it was all business and no pleasure unfortunately.
Anyhow, let’s take quick peek at what’s coming next week.
Tuesday will be the release of new home sales figures, which will give us a small inkling of how good or bad the economy is as far as home sales are concerned. But the big news will be on Wednesday, when the Federal Opem Market Committee will release its post meeting statements, followed thereafter by the Fed’s official economic forecast. They will conclude with ‘Big Ben’ (Fed chairman Ben Bernanke) and his press conference. The following day (Thursday) will bring the intial jobless report that will also be anxiously awaited by traders to see if the economy is cooling off again, or showing signs of life. Be prepared for volatile trading and fast moving market conditions on Wednesday and Thursday that could move rates either way.
Also next week, Uncle Sam will have a garage sale to the tune of $99 billion over 3 part auctions. $35 billion of 2-year Treasury Notes on Tuesday, $35 billion of 5-year notes on Wednesday, and $29 billion of 7-year notes on Thursday. If you believe what the forecasters predict, potentially higher rates starting next week, midweek sometime. You’ve been warned, whether or not it will actually happen is anyone’s guess.
Hey, speaking of rates, let’s get right to it:
Single Family Investment Property can be had for 20% down, and leveraged at 4.875%.
2-4 unit properties can be had for 25% down at 4.75%.
Everyone have a super weekend, and enjoy the great weather.