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Housing Prices Rise in Spite of Mortgage Rate Rise

The housing market is still gaining strength even in the face of recent home loan rate increases. Housing starts were up 5.9% annualized from June to July. Building permits, rose 2.7%,better than anticipated. National Association of Home Builders Housing Market Index rose in August to its best level in almost 8 years.

July Retail Sales were up for the 4th month in a row.  In the labor market, Weekly Initial Jobless Claims dropped to 320,000, the lowest since October 2007.

Inflation (both wholesale and consumer) has stayed moderate.

More About Buying A Home:
Existing-Home Sales Rise 6.5% in July
Naples Makes Top 10 Turnaround List

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