Market Update Report 1/22/2013 | Beacon Rock Wealth Advisors

The KUIK Market Update for Tuesday, January 22:

Markets are flat.

Index	Direction	Change	Units	Last	Time	Change
Dow	Down	(4)	points	13,646	7:54 AM
S&P500	Down	-0.2%	percent	1,484		(2.57)	points
Nasdaq Composite	Down	-0.3%	percent	3,125		(9.99)	points
30 Year Treasury	Up	1	Basis Points	3.04	Annual Yield

American home values climbed 5.9% in 2012, the largest annual gain since the summer of 2006 near the peak of the housing bubble, according to real-estate info provider Zillow. The final three months of 2012 marked five consecutive quarters of U.S. home value appreciation, and the near 6% annual jump is roughly double the historical average that has home values climbing about 3% a year. For 2013 Zillow forecasts a 3.3% rise.

Sales of existing homes declined 1% in December to a seasonally adjusted annual rate of 4.94 million, according to the National Association of Realtors. “Record low mortgage interest rates clearly are helping many home buyers, but tight inventory and restrictive mortgage underwriting standards are limiting sales,” said Lawrence Yun, NAR’s chief economist.

House Republicans next week will take up a bill to raise the U.S. debt ceiling for three months in an attempt to push the deadline to mid-April and force the Senate to pass a budget, Majority Leader Eric Cantor said Friday. The U.S.will run out of borrowing ability in mid-February or March, according to the Treasury Department.



Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK.

http://www.marketwatch.com/story/home-prices-up-unsustainable-59-in-2012-2013-01-22
http://www.marketwatch.com/story/sales-of-existing-homes-decline-1-in-december-2013-01-22?dist=lcountdown
http://www.marketwatch.com/story/republicans-seek-three-month-debt-increase-2013-01-18


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