Home Prices Rise

CoreLogic shows that home prices are up 6.5% from this time last year; this is a larger increase than we expected to see, in large part because prices increased 1.7% from May to June.

Car Sales are also up 5.3% from last year.  These are interesting statistics given that last week’s Consumer Confidence was down in the dumps.  Looks like people are still spending their money even though they are unsure about it. All of that negativity has pushed interest rates down a tad; don’t expect much more until after Friday’s Jobs Report.