East Bay Mortgage Market Update for January 5th 2011
By Doug Anderson, Bay Area Real Estate Views
(Tucker Associates Real Estate Services)
East Bay Mortgage Market Update for January 5th 2011 Economic News: Monday's ISM Manufacturing data was reported at the high end of consensus and showed strength in the manufacturing sector as we start the New Year. Tuesday's Vehicle Sales also came in better than expected with unit sales up 13.5% from year ago levels. The minutes from the Federal Open Market Committee (FOMC) meeting revealed sentiment that there is a brighter outlook for economic growth in the near to mid-term while it was still tepid concerning private sector hiring and job growth. Lastly, this morning's ADP Employment Report, as a precursor to the upcoming jobs data to be released later this week, pointed to a very large increase in payrolls for the December period. This has led to a stronger dollar and put the bond ...
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