Lake Tahoe Mortgage Rates and Lake Tahoe Home Loan Rates:
Stocks and Bonds start the holiday shortened week on a positive note as both are trading higher. The Bond markets will close early on Wednesday at 2:00pm ET and Stocks will close at 1:00pm. All capital markets will be closed on Thursday in observance of 4th of July.
Manufacturing across the nation bounced back modestly in June after slightly contracting in May. The ISM Index rose to 50.9 from 49.0, which was the weakest reading in four years. Within the report it showed that the employment component fell to 48.7 from 50.1 in May. The report also showed that business conditions remain good to improving while weather conditions are causing uncertainty in agricultural markets within the machinery sector.
The rebound in housing pushed up construction spending in May rising by 5.4% from a year earlier. The Commerce Department reported that private residential construction rose 1.2% from April to May and was the highest level since October 2008. There was a decline in non-residential construction as spending declined for office buildings and shopping centers.