Barbour County, AL Real Estate News

I just returned from a visit to my hometown of Eufaula, AL. It's a beautiful place and especially in the Spring with all the Azaleas and Dogwoods blooming. Eufaula is located at the stateline of Alabama and Georgia about 60 miles north of the Florida Stateline. Eufaula is called the Bass Capital of the World because of its 45000 acre lake which was created in 1963 by the damming of the Chattahoochee River. Eufaula was named for a tribe of Indians called the Eufaulas that once inhabited the area and was once a major trading post for cotton because of it's location on the river. Eufaula has one of the highest concentrations of ante-bellum homes in Alabama and has many buildings on the National Register of Historic Places. You can see some photos of Eufaula if you make yourself a facebook....
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By Chris McDonald
(WR Starkey Mortgage, LLP.)
There is no relevant economic news scheduled for release today or tomorrow. There are only four pieces of economic data scheduled to be posted the rest of the week along with an after-hours congressional testimony by Fed Chairman Ben Bernanke. The first report comes early Wednesday morning with the release of January's Retail Sales report. This report is very important to the financial markets because it measures consumer spending. Since consumer spending makes up two-thirds of the U.S. economy, any related data is watched quite closely. If Wednesday's report reveals weaker than expected sales, the bond market should thrive and mortgage rates will fall. However, a stronger reading than the 0.3% decline that is forecasted could lead to higher mortgage rates. The week's least important da...
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By Chris McDonald
(WR Starkey Mortgage, LLP.)
   Mr. Bernanke will deliver the Fed's semi-annual testimo ny on the status of the economy late Thursday afternoon. He will be speaking to the Senate Banking Committee and market participants will watch his words very closely. The Fed Chairman is required to deliver this testimony twice a year, which is considered to be of extreme importance to the financial markets. We almost always see the markets move as a result of what he says during this testimony, but this time is being done after market hours. If he indicates that inflation is still a concern, the bond market will likely fall mortgage rates will rise early Friday as a result. But, if he says that inflation remains under control, we should see the markets rally and mortgage rates fall Friday.
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