This Week’s Kansas City Real Estate and Mortgage Forecast

PENDING HOME SALES, INFLATION, FED MINUTES, AUGUST JOBS...You'd have to be a glutton for economic data to want more than we're getting this week. People of our persuasion will focus on June Pending Home Sales, expected to be off a smidge.Personal Income and Spending should be up a tad and inflation measured by Core PCE Prices should also be up, but well within Fed guidelines.

FOMC Minutes from the Fed's August 9 meeting might prove interesting, as that's when our central bank promised to keep the Funds Rate super low for another two years, but there were some strong "nay" votes. Hmmm. Of course we'll all focus on Friday's August Employment Report, expected to show job growth, though no better than the mild levels we've had--and no improvement in the unemployment rate.

Federal Reserve Watch

Forecasting Federal Reserve policy changes in coming months...At their last meeting, the Fed said they intend to keep the Funds Rate at present low levels through the first half of 2013. No one expects anything different. Note: In the lower chart, a 1% probability of change is a 99% certainty the rate will stay the same.
Current Fed Funds Rate: 0%–0.25%

Mike Medsker
Sr Mortgage Loan Officer
NMLS #2644281116-B Remington Plaza
Raymore, MO 64083
Mobile: (816) 309-6950

RE/MAX sells more homes than any other real estate company.
For a reason...should we talk?

Blog post written by the Dowell Taggart Team of RE/MAX Premier Realty

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