Financial Markets
The Dow Jones, Nasdaq and S and P all stumbled to the finish line
Friday, with the Dow dropping 160 points, and losing roughly 1% for the
day. The Dow ended trading at
16,412. The labor report was released
and is often a market mover but was not considered the catalyst for stock sell
offs yesterday. March resulted in
roughly 192,000 jobs created, just shy of analysts’ expectations of 200,000
jobs and down slightly from February’s 197,000 jobs created.
As a side note, this
month’s report also signifies that the country has gained back all 8.8 million
jobs lost during the Great Recession…Just took an easy breezy 6 years to do
it. This is not deemed as beacon of
light for recovery because the labor force grows every year, but a milestone
none the less.
Mortgage Backed Securities experienced calm trading sessions for
the past two weeks and the Fannie Mae 4.0 Coupon did not swing in either
direction more than 50 basis points. (50
basis points loosely translate into .125% in interest rate to the consumer).
Southern Nevada Real Estate Related Data
Interesting article about am underground home that was recently
purchased for 1.15 million…You can tell I was searching for content this
morning!
Also pretty cool, the Ivanpah Solar Plant located along I-15 south
of Las Vegas opened in February, and is the largest Solar Plant in the
world. The article states it can
generate enough power to light 140,000 homes. (Not sure if that means, “light”
or “power” and more specifically if it includes the AC units…..)
For more real estate financing information, please visit my website: http://www.matthewtmaltese.com/home.html
