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Pending Home Sales Down, Fed Interest Rate Meeting Today


July 29th, 2015 11:35 AM

Federal Reserve Chairman Janet Yellen Report To Congress

Pending Home Sales down 1.8% while investors wait for a Fed Interest Rate Hike

 

While investors and banks wait impatiently for a Fed meeting with Janet Yellen and a possible interest rate hike, the pending home sales report was released showing a drop of 1.8% in June. Not the indicator Janet Yellen would want to see if she is going to raise interest rates.

 

Why is this so important?

 

The pending home sales index provides a gauge to measure the demand for housing which is a major overall factor that can affect the direction of our economic market. If people are not buying homes; that means people don’t have money to buy a new home. If people don’t have money, how can you justify raising interest rates on an economy hanging on by a thread?

 

With growing fears that China will not be able to artificially hold up their economy and stock market, another fear is born. A fear that a house of cards is about to collapse and could ripple around the world. If a small country like Greece can cause such havoc and turbulence in the U.S. stock market, imagine what a collapse in China would do.

 

We have just not been seeing the economic numbers we would like to see. Consumer confidence was blown away yesterday compiled with another bad housing report from Case-Shiller. Now we get even worse news on the housing market today showing a similar drop in home sales.

 

Janet Yellen may raise rates in September, but how far can she really go? What can the consumers in our economy really afford especially when it comes to their mortgage? All we can do is wait and see. Will the benefits of waiting to raise rates past September really a good idea? Or is it time to just go for it and take the consequences, whatever they me be?

 

We continue to wait for Janet Yellen.

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About Dr. Ron Caskey

Dr. Caskey has over 30 years experience as a trusted financial professional. Over the past three decades, he has helped scores of valued clients create, protect, and distribute wealth in an effort to greatly enhance their overall quality of life. He lives with his wife Jeannine in Firestone, Colorado. They have raised 5 kids and have 11 grandkids.

Dr. Caskey's top priorty is working with you to both learn about your particular situation and to make sure you are fully educated so that together we can find the solutions that work best for your particular situation.

*Disclaimer* - *Guarantees are backed by the financial strength and claims-paying ability of the issuing company. Bonus annuities may include higher surrender charges, longer surrender periods, lower caps, higher spreads, or other restrictions that are not included in similar annuities that don’t offer a bonus. By responding you may be contacted by an insurance agent. Annuities are designed to meet long-term needs for retirement income. They provide guarantees against the loss of principal and credited interest, and the reassurance of a death benefit for beneficiaries. This website and its contents, downloads, videos and audio files are designed to provide general information on the subjects covered and is provided to you for informational purposes only. Pursuant to IRS Circular 230, it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that Ron Caskey does not give legal or tax advice. Please consult your tax advisor or attorney. Ron Caskey is a registered and licensed insurance agent resident in the state of Colorado, non resident in multiple other states. This website focuses on insurance products in an attempt to avoid volatility. The term "Safe Money" should not be understood as signifying a guarantee or a guaranteed investment.*
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