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Durable Goods Lower - Rates to Follow

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Mortgage and Lending with Equity Resources NMLS 67179 Licensed in NC
According to the most recent reports -

Bill Haber / AP
New orders for long-lasting U.S.-made manufactured goods rose by a much less-than-forecast 0.1 percent during November and a key gauge of corporate appetite for investment also unexpectedly shrank, government data on Thursday showed.

Separately, total applications for U.S. jobless claims rose by 1,000 last week, while the number of longer-term unemployed rose to its highest in more than two years, the government said Thursday.

WHAT DOES THIS MEAN????  It means that the Holiday Shopping was created by reducing inventories - It also means manufacturers are not creating new products... This means that forecasts for a robust 4th quarter in the Economy are likely overblown.  We will know more around January 10th when the retail numbers come out! 

Rates should continue to head SOUTH.  They will follow the economy down.

Show All Comments
Rick Turner
Key Realty - Toledo, OH
Puts People In Their Places!!

Eleanor,

I like the way you summarized this post with your question... WHAT DOES THIS MEAN?!  You know with sooo much information out and available to consumers, they don't need us to give them info, they need us to make sense of it all!!  And you did!  Good post!

Happy New Year, from Toledo, Ohio!!

Dec 30, 2007 04:28 PM
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