Steven Wood
Steven Wood
Steven Woodwas an Australian sprint canoeist and marathon canoeist who competed in the late 1980s and early 1990s. Competing in two Summer Olympics, he won a bronze medal in the K-4 1000 m event at Barcelona in 1992...
activity balance continued declines fed further helped high housing labor last likely markets mortgage rates relatively rising robust sustain
With last week's Fed tightening, mortgage rates have continued to rise, so that further declines in housing activity are likely over the balance of the year. Nevertheless, robust labor markets and rising incomes have helped sustain housing at a relatively high level.
accelerate buying demand housing likely mortgage motivated potential rates rising
The demand for new housing surged, likely because rising mortgage rates motivated some potential homebuyers to accelerate their buying decisions.
although declined economic efforts further growth helping last level mortgage pace past rates relatively sales six slow solid three weakness
Although the level of sales is still relatively high, the solid growth of the past three years has been arrested, helping the Fed's efforts to slow the pace of economic growth. However, mortgage rates have declined over the last six weeks, so further substantial weakness may not be forthcoming.
although continued curve declined due financial flat lending mortgage past rates standards three volumes yield
Although mortgage rates have declined over the past three weeks, mortgage applications volumes have continued to fall. This is partially due to the flat yield curve and partially due to tighter lending standards by financial institutions.
beginning confidence consumer creation equity flat growth home housing income job markets mortgage next past rates sales several since suggest
Housing fundamentals are deteriorating. Mortgage rates have been flat since the beginning of the year. Job creation and income growth has slowed. Equity markets have plunged over the past year. And consumer confidence has tumbled. Moreover, mortgage applications have trailed off. All of these suggest that home sales should weaken over the next several months.
beginning confidence consumer creation equity flat growth home housing income job markets mortgage next past rates sales several since suggest
Housing fundamentals are deteriorating, ... Mortgage rates have been flat since the beginning of the year. Job creation and income growth has slowed. Equity markets have plunged over the past year. And consumer confidence has tumbled. Moreover, mortgage applications have trailed off. All of these suggest that home sales should weaken over the next several months.
decline effects fact fell four higher hurricane mortgage rates regions related
While some of the decline was related to the effects of Hurricane Floyd, the fact that all four regions fell suggests that higher mortgage rates are also having a constraining effect.
concern economic fed inflation low outlook tame uncertain
Inflation is sufficiently low and tame -- and the economic outlook is sufficiently uncertain -- to be of little concern to the Fed at present.
abroad coming conditions continued demand economies economy expanding fast fed given home increased inventory low pace production quite remains robust support sure view
Increased demand in expanding economies abroad and continued robust conditions at home support the production outlook, given the low inventory environment. The Fed is sure to view the economy as expanding at too fast a pace now that manufacturing is coming back and consumption remains quite strong.
activity economic flattened recovery suggesting
Economic activity flattened out at the end of the summer, suggesting that the nascent recovery may have already been aborted.
august below continues diminish economic extended fed growth increase rate report slower third welcome
The Fed will welcome this report as it suggests that slower economic growth will be extended into the third quarter. The probability of an August rate increase continues to diminish and is now below 50 percent.
continue economic focus policy
The (Fed) will continue to focus policy on reviving economic growth.
data economic extended further growth policy providing second slowing welcome
The (Fed policy makers) will welcome this data as providing further confirmation that the slowing of economic growth in Q2 (the second quarter) has been extended into Q3,
cannot easing pace slow stop
The (Fed) may slow the pace of easing but they cannot stop yet.