Julie Henderson

The stock market is hitting new highs for 2009, and mortgage rates have dropped slightly, when is the last time we saw that happen?

Although the last couple of days the stock market has been relatively flat, overall there has been a rising trend in the DOW, S&P and NASDAQ. There is more and more talk about recovery, however, finally almost all the experts seem to agree that it is going to be slow ride back to financial health for businesses, consumers and the economy.

There are many economic reports that are indicating that we are at the cusp of a recovery. Although unemployment continues to increase, the pace in which people are losing their jobs has declined. The fear of job loss still has most consumers only spending money on what they would consider necessities.

Corporate profits are rising however the underlying fundamental that keeps the stock market from going crazy is that these companies are increasing profits due to cost cutting measures, not increased sales. Until the American people once again feel comfortable spending, corporations will not see significant increases in sales and profits.

The government had major bond auctions this week in which the demand for U.S. Treasuries was higher than expected. Many investors, although they believe that the recovery is slowly under way, are still demonstrating caution in their investment strategies.

Major economic news reports this week were:

• Initial jobless claims came in 10,000 less than expected
• Continuing jobless claims drop 119,000 (this number does not reflect people that have given up)
• The government bond auctions went better than anticipated.

It is nice to be able to write about a fairly stable market for this past week. Although there are still rough waters ahead, the markets are now beginning to function more normally. "Normal", do we even know what that means? I was beginning to think that market "chaos" was the new "normal".

Next week many potential market movers for both the stock and bond market will be released. The economic reports on tap for next week are:

• Tuesday September 15 - Producer Price Index
• Tuesday September 15 - Retail Sales
• Wednesday September 16th - Consumer Price Index
• Thursday September 17th - Housing Starts
• Thursday September 17^th - Jobless Claims

Redding, CA has a very diverse crowd. Whether it be the locals that spend their time keeping this community up and running or it be the tourists on their way to one of our awesome outdoor playgrounds of water or mountain. But one thing remains the same and that is the need for Real Estate financing for home, commercial and business. With the changes in the market place for Real Estate financing there are a lot of reasons that you need to speak with a seasoned professional. Working with out of the area mortgage professionals can be very cumbersome as they do not know how to deal with the specifics of the area.

They will know how to work your loan, but will they be able to get the Realtors to see what needs to happen to keep your deal together? Will they be able to work smoothly with the escrow company with out having that relationship that a local to the market, Real Estate Financing professional in Redding, CA will be able to have? Unfortunately the answer to those questions is most likely No. It is not an easy task to work with out of town lenders as they aren't able to get into the trenches to fight for you quite the same way a local Real Estate Financing professional can.

Take into account that this is something that works in any environment. Working locally not only helps you get some of the best work possible, but it also helps to stimulate the economy in your community. It is nice to know that you are helping keep your town/city economically sound just by keeping business within.

Julie Henderson