Posted by: admin in Florida Property News on Mar 12, 2009
Here is our weekly reporting of Freddie Mac's Primary Mortgage Market Survey®. See the figures below.
Frank Northaft, Freddie Mac vice president and chief economist stated there was a 4.3 percent fall in consumer spending, which was the largest decrease since the second quarter of 1980, amid talk of slowing home sales rates (much the same as last week). Tread carefully if you are considering buying property...have a look at our post on the latest foreclosure report just released by RealityTrac(R).
Florida foreclosure is high and in US in general despite relief measures. Property acquired by these means may be cheap but may only be a good investment if you cover all your bases. Knowing what the bases are is ESSENTIAL! If you need any assistance or have ?'s on buying in Florida just use our Contact page.
| | FLORIDA | USA |
| Average | 5.05 | 5.03 |
| *Fees & Points | 0.7 | 0.7 |
US Weekly Currency Interbank Exchange Rates 6 March 2009
| Currency Rate | Last Week | This Week |
| US$ | 1.413 | 1.395 |
The US$’s stance as a safe-haven resource was strengthened this week thanks to speculative future strength of Japanese Yen alongside action taken by the Swiss National Bank to purchase colossal amounts of foreign currency in an attempt to purposefully devalue the Swiss franc. US trade deficit figures, released on Friday, were more encouraging than expected and helped bring some optimism and risk-appetite to investors and a slight fall in the US$ across the board.
Otherwise, there was very little significant US economic data during the week meaning the US$ fell marginally against the euro and closed the week fractionally higher against sterling. In a time of such uncertainty in markets it is very difficult to see what will bring about the level risk-appetite to which will result in a more realistic value to the US$.