Home Appreciation Comes In High

Good news this morning for the housing industry. The Case-Shiller report showed that there was a 4.8% annualized appreciation for homes across the United States in July.

The bond market has drifted down since September 20^th. It will be interesting to watch how the market evolves throughout the presidential debates.

Rates are still above their double floor of support. As we said yesterday, we are waiting to see how this weeks inflation report impacts this.