The Beige Book
The Fed’s latest Beige Book had some good news and some bad news for the real estate pros. The Beige Book is an anecdotal analysis of the Fed's 12 regions. The good news is the Dallas District, of which Houston is apart, reports strong housing activity. The bad news is the report raises concerns regarding inflation. According to the report, "contacts in many industries expressed concerns about high or rising costs." These rising costs then led to higher prices. This coupled with strong economic expansion provides some real inflationary pressure, which could lead to higher mortgage rates in the near future.
posted by Vincent Biondillo @ 11:09 AM
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