Housing starts in August fell from 601,000 to 571,000, more than double the expected declined. However, a bright spot appeared as building permits rose.
Last night Standard and Poor’s cut Italy’s rating from A+ to A using a similar rationale when S & P downgraded the U.S. It seems Italy’s political leadership is hesitant to tackle the challenges facing their country, much as the U.S. political leadership is.
The drama in Greece continues with another round of talks scheduled for today between Greek and EU officials. Hmmm, I wonder if Las Vegas is making odds on whether or not Greece will default on its debt.
After a nice rally Monday, bonds faded into the close and are lower again this morning. Mortgage prices are worse by approximately .25% from Monday’s mid-day price improvement.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment