Lake Tahoe Home Loan Rates and Lake Tahoe Mortgage Rates:
The capital markets are quiet today as the dog days of summer drag on with major players away for the month and traders escaping from their desks to start the weekend early. The major Stock indexes are set to close the week lower for the first time in two months due to players taking profits after the recent record levels that were hit last week.
Corporate earnings season is winding down and of the 446 companies in the S&P 500 that have reported, 72% have beaten profit estimates and 56% have exceeded sales projections.
The big question this past week was whether or not the Federal Reserve (the Fed) will begin to pullback or taper their current purchases of Treasury and Mortgage Backed Securities. The Fed is purchasing $85 billion per month in the securities in an effort to promote growth, keep longer term interest rates and to boost the labor markets. Many feel that the taper will begin after the September 17-18 FOMC meeting.