BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
(615) 591-0611 mbartlett@argenttrust.com
The Housing market is showing signs of weakness in the September data as Housing Starts fell 5.3% and Building Permits fell 0.6%, both released earlier this week. It is expected that Existing Home Sales will also show a decrease in September, ‐0.9% expected, when released later today. As interest rates increase, it makes mortgages less affordable. While Housing is only a small part of GDP, less than 5%, it is intertwined with other parts of retail and consumer behavior that are bigger parts of the economy. Furthermore, given the amount and pace of interest rate increases remains on investor’s minds in recent market sessions, hopefully the Federal Reserve can adjust and navigate their policy appropriately in the months ahead. In all, equity futures are higher this morning heading into the market open.
This information has been prepared by Argent Trust to highlight issues which may be of interest to the recipient and is not intended as legal, investment or tax advice. You are urged to seek legal, tax and accounting counsel for your particular situation before acting on topics discussed here. At Argent Trust, we assist our clients in managing and enhancing their wealth. Please call us at 615.591.0044 with questions or to schedule a meeting. © 2018 Argent Financial.
