Archive for June, 2008
“Soak up the Sun” in Chattanooga - Pool Safety First
Categories: Chattanooga Real Estate News, Home Maintenance, Things to Do in Chattanooga
By David Israel, Business Manager
As you listen to and follow Cheryl Crowe’s advice, “Soak up the Sun”, don’t forget to pay attention to the kids in the Pool. Today there are more pool accidents than ever before. In Chattanooga, not every home has a pool like where I grew up in Florida, but there are many private and community pools. There is no better way to spend the summer than by the pool and safety must be the highest priority.
I recently read an article on Pool Fence.com that talked about safety and gave some pretty scary statistics, so I thought I would take the time to share them with you since I love spending time in the pool at my friend’s home in Chattanooga. Here is a study conducted by the U.S. Consumer Product Safety Commission that investigated child drowning incidents. It indicated that SUPERVISION CAN AND DOES FAIL.
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Bernanke Stirs Up Inflation Fears
Categories: Chattanooga Market Conditions, Chattanooga Real Estate News, Mortgage and Finance
By Angel Sherlin
Usually the monthly Employment report is the main event of the week, but Fed Chief Bernanke stole the show. Following the theme of other Fed officials in recent weeks, Bernanke focused on inflation risks in multiple speeches, and his comments were unexpectedly direct. According to him, inflation expectations are a “significant concern.” He explained that the decline in the value of the dollar and the increase in the cost of energy were adding to inflationary pressures. Inflation is negative for mortgage investors, and mortgage rates rose for the fourth straight week due to increased concern.
At the end of a volatile week, investors were closely watching Friday’s important Employment report. The headline number came in right on target, with a loss of -49K jobs in May. The big surprise came from the change in the Unemployment Rate. Expected to rise slightly to 5.1% from 5.0% in April, it instead jumped to 5.5%, the highest level since October 2004. Economists attributed the spike to an unusually large influx of young adults entering the labor force to find summer jobs, so the reaction in the mortgage market was modest.
ALSO NOTABLE:
* In May, the Unemployment Rate showed the largest monthly increase since February 1986
* The Bank of England and the European Central Bank both held rates steady
* The Fed’s Lacker suggested that the programs put in place to ease the credit crunch may encourage excessive risk taking
* Oil prices declined as low as $122 per barrel, but then rose again to record levels near $135 per barrel
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