Last Week in Review:
Home loan rates modestly improve amidst rout in Stocks.
Folks didn't receive that memo this past week as the threat of rising rates and some not-so-rosy outlooks from firms like Amazon definitely frightened investors, who fled from Stocks.
All three major Stock indices - the Dow Jones, S&P 500 and Nasdaq sold off hard this week and are now flat-to-negative for the year.
Even a better than expected 3rd Quarter GDP reading of 3.5% along with a stellar consumer spending reading on Friday could not help Stocks avoid a selloff at the open.
The Bond market welcomed some of the money from the Stock selloff, thus helping home loan rates improve slightly.
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