The four-bedroom house that Ilia Nielsen-Dembe purchased in west Denver earlier this year wasn’t her top choice. The first-time buyer had to settle on a home in a neighborhood with a high crime rate after losing out on bids for five properties in more desirable areas.
The question of when to raise borrowing costs will likely be addressed on Wednesday when the FOMC makes its latest policy statement. And of course the major economic news of the week will be the release of nonfarm payrolls for July due on Friday morning.
Price swings in the dollar against the yen measured by options fell to a record as signs of an uneven U.S. economic recovery fueled bets the Federal Reserve will keep borrowing costs at unprecedented lows.
U.S. stocks declined, sending equities to a second day of losses after reaching all-time highs, as data showed home prices rose at a slower pace than forecast and investors watched developments in Iraq.