Long-term rates stayed about the same this week, mortgages just above 4.5 percent for most products. There are many things to write about this week, but the most important news for most Americans is the first retreat from Dodd-Frank toward common sense. Economic data stayed in pattern -- reasonable growth without acceleration. Overall orders for durable goods fell 7 percent in July, but excluding volatile orders for airplanes and such gained 0.6 percent. Pending home sales fell 1.3 percent in July, but from an improved level. Second-quarter GDP was revised up from 1.7 percent to 2.5 percent annualized, but net of accounting gyrations still two-ish -- way under the Fed's forecast, as is inflation, barely 1 percent annualized. Consumer spending and incomes in July rose 0.1 percen...
Aug 28, 2013 by Inman
Aug 28, 2013 by Teke Wiggin