Last Week in Review: The Good News Flow Continues
This past week was filled with so much good news. The biggest of which was the signing of Phase One of the U.S. and China trade pact.
This trade deal is a very positive development for the U.S., China, and the world, and paves the way for future business investment and other trade deals around the globe. This also removed what was a big uncertainty for many months.
The economic data was already amazing with the following reports coming in better than expectations:
And speaking of better than expectations, we also watched the start of corporate earnings season and most of the big banks handily beat expectations.
All of this good news has pushed Stocks to all-time highs, but at the same time Mortgage Bonds and home loan rates remained right at the best levels in three years... remarkable.
Bottom line: the U.S. economy remains quite strong with zero chance of a recession anytime soon, yet at the same time home loan rates have not moved higher, giving many an incredible opportunity to purchase or refinance a home.