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While the days data should have led to the Atlanta Fed cutting its GDP Now first quarter estimate into the red, it was instead revised up to +.3% on the news.  It’s often said that the Chinese economy is command as opposed to free market driven.  A criticism that I’m increasingly of the opinion applies to our supposedly free market system as much if not more than the Chinese.

The MBA or Mortgage Bankers Association reports that mortgage activity jumped 10% last week as refis surged 11% and purchase apps increased 8%.  The 30-year contract rate on a conforming loan slipped .04% to 3.82%.

This is Caleb Lawrence Registered Investment Adviser Inc. Scotts Valley Drive and Willis Road in the Scotts Valley Plaza, Suite 202 or call me toll free at 888-RICH PIG / 888-742-4744.

You can catch me on the radio at noon each business day as well on California’s central coast.  KPIG 107.5 FM in the Monterey Bay or KPYG 94.9 FM in San Luis Obispo.

Advisory services offered through Caleb Lawrence Registered Investment Adviser Inc.

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