September 4 2006

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For the week of Sep 04, 2006 --- Vol. 4, Issue 36

Labor Day Holiday

As your Trusted Advisor, I sincerely hope you have been enjoying your complimentary subscription to the MORTGAGE MARKET GUIDE WEEKLY. As the Labor Day holiday is being observed this week, we hope you enjoy the piece below on the history of Labor Day, and your next issue will arrive "hot off the press" on Monday September 11th. The MORTGAGE MARKET GUIDE WEEKLY is the industry's leading publication of this type, and I am pleased to provide this valuable resource to you. If you feel any of your clients or associates would benefit from keeping up-to-date on market and economic trends in this easy to read format, please let me know, and I would be more than happy to add them free of charge. Best wishes to you, and please do not hesitate to contact me if I may be of any assistance to you or your valued clients at this time! "Many times a day I realize how much my own life is built upon the labors of my fellowmen, and how earnestly I must exert myself in order to give in return as much as I have received" - Albert Einstein Ask anyone the significance of Labor Day and most will say it officially marks the end of summer. But did you know that the observance of "Labor Day" dates back to 1882 and has been recognized as a National Holiday for over 100 years? The holiday started as a local celebration and parade to honor of the working class by the Knights of Labor, an American labor organization in New York City. Over time, the date evolved into an annual national tribute, honoring the contributions to our country made by workers across the US. The Knights of Labor held the first Labor Day celebration on Tuesday, September 5, 1882. By 1884, a resolution was passed to make this an annual event in New York City. The Central Labor Union urged similar labor organizations to follow the trend set by New York City and the lobbying paid off. On February 21, 1887, Oregon became the first state to declare it a legal state holiday. Within four months, Colorado, Massachusetts, New Jersey, and New York followed suit and also declared it a state holiday. In 1894, Congress passed a law recognizing Labor Day as an official national holiday. Labor Day is celebrated around the world, however the US and Canada are the only countries that always observe the holiday on the first Monday in September. In Europe, Labor Day is celebrated on May 1 and is known as May Day. And don't forget, as you are enjoying the celebration of Labor Day, don't forget to pack away your white shoes - they can come out again on Memorial Day!

The material contained in this newsletter has been prepared by an independent third-party provider. The content is provided for use by real estate, financial services and other professionals only and is not intended for consumer distribution. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, there is no guarantee it is not without errors.

As your trusted advisor, I am sending you the MMG WEEKLY because I am committed to keeping you updated on the economic events that impact interest rates and how they may affect you.