Lake Tahoe Home Loans and Lake Tahoe Mortgage Loan Rates:
The Commerce Department reported this morning that products lasting more than three years had their biggest decline since August of 2012. The Durable Orders report fell by 7.3% in July, below the -0.5% expected and down from the +3.9% registered in June. Orders for aircraft, computers and defense equipment all declined.
As the summer driving season winds down, the price at the pump has been declining. The national average price for a regular gallon of gasoline at the pump is at $3.54, down from $3.64 a month ago and down from $3.74 a year ago. Prices tend to move up near Memorial Day due to the surge in summer driving and decline as the summer winds down. The all-time high average price was $4.11 hit back on July 7, 2008.
The economic calendar is packed this week with reports that will cover a broad range of the U.S. economy. The data will offer the Federal Reserve members ammunition to decide whether or not to begin tapering its current Quantitative Easing program. The highlights this week include Case/Shiller Home Price Index, Consumer Confidence and Sentiment, Gross Domestic Product and the Chicago Manufacturing report.