The National Association of Home Builders report released yesterday shows that the Housing Market Index has come in at 60 for July. That’s tied with the highest it’s been since it hit 61 in November, 2005, and ahead of projection of 59 from economists. That, combined with a decrease in claims for State unemployment benefits for the first time in 3 weeks. Combined, these factors seem to indicate that the economy is strong enough to support an interest rate hike this year. The strength of the dollar is a contributing factor as well.
