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HEAT SIPHON News - September 2019

Dow Jones Nears New ALL TIME RECORD !!

 

New TimerStat Pro Status LED Enlightens Owners / Serviceman

Latrobe, PA - July 4, 2019

The NEW Analog "C" Series Heat Siphon's began shipping last year with our new TimerStat Pro Controller that adds a sophisticated status LED light while keeping our economical original "Set It & Forget It!" single knob design.

The LED can display red green & orange to let you know the status of your Heat Siphon at a glance, including - POWER, NO FLOW, HEATING, HI/LOW Pressure Error, Reset Breaker Error & Call Factory for Servuce.

When flashing the LED signifies various conditions such as checking flow, restart delay, heating pool, SEE ABOVE - animation for demonstration.

The TimerStat Pro will mount in the same door as the digital Player Models.

This allows a direct replacement upgrade to Digital without any wiring or harness changes other than a simple jumper. Just remove the door unscrew the plug and replace it with a digital Player door assembly.

"This is a MAJOR improvement which required some changes to the software of the controller, and the minimal cost of adding an LED to the board. The NEW SMART USER FRIENDLY Timerstat Pro will not impact the price of our analog models" says Bill Bernardi, President.

U.S. Housing Starts Rose Significantly in August

WSJ Sept. 18, 2019

Home building in the U.S. increased in August to the highest level since June 2007, according to Commerce Department data released Wednesday.

The report cues a positive note for the American housing industry in what has been a year marked by lagging home sales and sluggish single-family construction.

Housing starts, a measure of new-home construction, climbed 12.3% in August from the prior month to a seasonally adjusted annual rate of 1.364 million. “The new-home market is getting a boost this year from lower mortgage rates and the extremely low levels of supply for existing homes.” said Ben Ayres, senior economist at Nationwide. Economists surveyed by The Wall Street Journal had forecast that starts rose 4.1% to an annual pace of 1.24 million last month.

In fact, it was strength in the multifamily sector that helped drive the steep August climb in building. Construction of buildings with two or more units rose 32.8% in August from a month earlier. Single-family home construction, meanwhile, rose just 4.4% Residential building permits, which can signal how much construction is in the pipeline, rose 7.7% from July to an annual pace of 1.419 million.

Housing-starts data are volatile from month to month and can be subject to large revisions. August’s 12.3% increase for starts came with a margin of error of 10.2 percentage points.

Wednesday’s data are a positive sign the housing sector. Despite historically low mortgage rates and rising wages, the housing sector has been strained by a low inventory of affordable homes, propelled by rising construction costs and lack of land.

Last month, the Commerce Department reported that July saw the largest monthly drop in new-homes sales since 2013, with new-home sales falling by 12.8 percent, a bigger decline than economists had anticipated.

Numbers for August 2019 will be released on Sept. 25. Economists have been waiting for low mortgage rates to have a measurable impact on the housing market.

The average interest rate on a 30-year mortgage was 3.56% last week, according to Freddie Mac, about a percentage point less than it was a year ago.

A Wednesday report from the Mortgage Bankers Association showed that mortgage applications for home purchases have risen for three straight weeks.

Home-builder stocks, meanwhile, are outpacing the S&P 500 this year by a 13-point margin, fueled in part by speculation over low borrowing costs. Zillow economist Matthew Speakman said the strong August housing-starts numbers indicated high builder confidence was being buoyed by falling mortgage rates.

“It’s not flashy, but this sign of resilience is welcome news for a housing market that is still struggling to grasp some momentum,” Mr. Speakman said.

Better Days are On The Way!

September 13, 2019
DJIA Nears Record

 

Sept 12, 2019 - After hitting an all time high of 27,398.68 in July the Dow is hovering back at the top hitting 27,287 mid day on September 12, 2019.

U.S. Factories Bounced Back in August

September 17, 2019 - WSJ

U.S. industrial production rose in August, a welcome sign of resilience in the economy after recent weak readings.

Industrial production, a measure of factory, mining and utility output, rose a seasonally adjusted 0.6% in August from the prior month, the Federal Reserve said Tuesday, well above economists’ expectations for a 0.2% increase.

The stronger - than - expected report on factory output comes as Federal Reserve officials meet in Washington for a two-day policy gathering. Fed Chairman Jerome Powell is leading his colleagues to cut interest rates by a quarter percentage point at their meeting, for the second time in as many months, to cushion the U.S. economy against a slowdown from the U.S.-China trade conflict and weak growth abroad. Tuesday’s report runs counter to earlier signs of weakness in the industrial sector. Output at U.S. factories, which accounts for about 75% of the nation’s total industrial output, rose 0.5% last month from July.

Mortgage Rates Touch 3 yr Low

WSJ - Sept 18, 2019

Consumers’ borrowing costs have drifted lower since the Federal Reserve cut interest rates in July, fueling a wave of mortgage refinancing and helping to support household spending despite deepening economic uncertainty.

Mortgage rates in the U.S. touched a nearly three-year low in recent weeks. The average rate on a 30-year, fixed-rate mortgage for a typical borrower wielding excellent credit and a 20% down payment fell to 3.56% last week from 3.75% in the week before the Fed’s July 30-31 policy meeting, according to Freddie Mac .

Overall mortgage originations in the third quarter will hit $605 billion, up 32% from a year earlier. The lower rates could provide a bit of additional oomph to consumer spending at a time when households are already enjoying the fruits of low unemployment and rising wages.

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