ECONOMIC NEWS - STILL NOT A RECESSION?: According to the U.S. Commerce Department, the U.S. economy grew at a 1.9% annualized rate in the second quarter of 2008. The economy grew at a rate of 0.9 percent in the first quarter. (Note: These numbers are always adjusted, so it is possible they will be adjusted enough to later discover we actually were in a recession). Initial claims for unemployment insurance rose to the highest level in more than five years last week. Claims jumped by 44,000 to 448,000. The trade deficit was the smallest in seven years prevented the economy from shrinking again last quarter.
John R. Thomas - Certified Mortgage Planner - Primary Residential Mortgage
As a Certified Mortgage Planner, I help people achieve their dreams and goals by assisting them in designing financial strategies that work for each client to accomplish financial freedom.
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