REL Colorado Real Estate Listing in Colorado
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MARKET UPDATE
LIGHTS ON ~ 44% of the electricity in the USA is generated from coal, 23% from natural gas, 20% from nuclear power, 7% from hydropower and just 2% from wind power (source: Energy Information Administration).
ALL MARKETS ARE CLOSED NEXT FRIDAY (4/22/2011) FOR GOOD FRIDAY.
Mortgage interest rates improved this past week despite mixed economic data. Economic data better than expected included the April New York Empire State Manufacturing Index, March Industrial Production and Capacity Utilization, and the University of Michigan Consumer Sentiment Index. Reports weaker than expected included weekly jobless claims, which increased 27k on expectations that claims would increase by only 3k. The IMF lowered their growth forecast for the US economy in 2011 from 3.0% to 2.8% and the National Federation of Independent Business reported a decrease in optimism in the small business sector. Also of note, the Treasury auctioned $66 billion in 3 Year Notes, 10 Year Notes, and 30 Year Bonds which was met by the markets with mixed demand.
Mortgage interest rates improved this past week despite mixed economic data. Economic data better than expected included the April New York Empire State Manufacturing Index, March Industrial Production and Capacity Utilization, and the University of Michigan Consumer Sentiment Index. Reports weaker than expected included weekly jobless claims, which increased 27k on expectations that claims would increase by only 3k. The IMF lowered their growth forecast for the US economy in 2011 from 3.0% to 2.8% and the National Federation of Independent Business reported a decrease in optimism in the small business sector. Also of note, the Treasury auctioned $66 billion in 3 Year Notes, 10 Year Notes, and 30 Year Bonds which was met by the markets with mixed demand.
The Dow Jones Industrial Average is currently at 12,316, down about 60 points on the week. Crude oil futures are currently trading at just over $109 per barrel, up almost $2 per barrel on the week. The Dollar strengthened slightly versus the Euro and weakened versus the Yen on the week.
This week look toward Today's Housing Starts, Wednesday's Existing Home Sales, and Thursday's weekly jobless claims and Philadelphia Fed Manufacturing Index as potential market moving events. All markets are closed next Friday for Good Friday.
