The headline Durable Goods orders shows a rise of a whopping 22.6%. Dissecting the report however shows a massive order from Boeing Aircraft, and after you strip out the transportation sector (due to the volatile ordering process and enormous price tag), the net–or core–Durable Goods orders actually declined 0.8%.
Oftentimes Stocks buy or sell on the headlines and then reverse direction after the information is digested. The S&P 500 Index just breached the 2000 threshold after today’s opening bell. The index is up almost 20% from a year ago. The bond chart has seen very little movement since the end of May.
Thirty year FHA loans are at 3.5% and Conventional loans are at 4.125%. Fifteen year rates are way lower at 3.0% (APR will be higher, depending on the loan and down payment amounts, and amortization term–as closing costs and the presence of mortgage insurance affect each loan differently.)
