Home sales climb despite drop in mortgage applications

October 28, 2009 | Comments Off

Despite the fact that mortgage applications are falling because of uncertainty about the ongoing potential for first-time home buyer credits, home sales are expected to have risen by 2.6 per cent during September when the report is issued later Wednesday (October 28) morning. This is according to a consensus from Thomson Reuters analysts. Read more

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Mortgage rates remain affordable

October 21, 2009 | Comments Off

While most banks aren’t currently offering rates at the historically low levels seen earlier this year, overall, mortgage rates are still very affordable. According to bankrate.com, the national average cost for a 30-year fixed rate loan Wednesday (October 21) is 5.23 per cent, compared to 4.99% one week ago. Read more

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Euro and Pound rebound on weak dollar

October 16, 2009 | Comments Off

The same weak dollar that has helped oil break out from a trading range to sit near $77, and gold surge to historic highs well over $1,000, has helped contribute to renewed interest in leveraging other foreign currencies against the greenback. Read more

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Oil finally pierces $75 level

October 14, 2009 | Comments Off

As gold continues to establish new record levels almost daily (currently above $1,070), oil has finally managed to cruise above the $75 mark thanks in large part to the beaten down dollar. Oil reached as high as $75.15 in midday European electronic trade on the New York Mercantile Exchange, and currently sits at $75, a gain of 85 cents. Read more

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Oil refuses to give up on $70

October 7, 2009 | Comments Off

Regardless of what many economists and analysts have said about the supply and demand reality of oil, the price of a barrel continues to hover around and just over the $70 mark. In noon time European trade on the New York Mercantile Exchange Wednesday (October 7th), benchmark crude for November delivery trades at $71.20, after settling at $70.88 on Tuesday. Read more

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Jobs report dampens optimism of positive economic outlook

October 5, 2009 | Comments Off

Just two days after the second quarter gross domestic product report excited analysts and investors, the new jobs report released Friday (October 2nd) has softened hopes that all is rosy on the economic front. Read more

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