Lake Tahoe Home Loans and Lake Tahoe Mortgage Loan Rates:
Positive economic data hit the wires this morning after several weeks of sub-par reports. The news is buoying Stocks in and capping Bond prices. With the holiday weekend looming, most of the heavy hitters will begin to close shop and head out today for an extended vacation.
The Commerce Department reported this morning that the second reading on Q2 Gross Domestic Product rose by 2.5%, up from the initial reading of 1.7%. The government cited a surge in exports as the main reason for the jump in growth. The estimates were calling for a 2.1% rise.
Americans filing for first time unemployment benefits continue to hover near 6-year lows. The Labor Department reported that Weekly Initial Jobless Claims fell by 6,000 in the latest week to 331,000, inline with estimates. Despite the low levels of claims, hiring continues to be at just a modest pace.
Over in the foreclosure front, CoreLogic reported that completed foreclosures plunged by 25% from July 2012 to July 2013. CoreLogic said that every state reported year-over-year declines in foreclosures while delinquencies fell to the lowest levels since December 2008.