Strong Retail Sales Data Could Lead To Higher Mortgage Rates In January

By
Mortgage and Lending with Chris Brown | Certified Mortgage Planners NMLS 303797

If you wonder what mortgage rates and home affordability will look like next year, today's Retail Sales data may hold your answer.

Versus October, November's ex-auto sales were up by more than 1 percent. Analysts expected the increase, but not an increase of this magnitude.

"Ex-auto" means that motor vehicles and parts are excluded from the data.

Home values are increasing in many parts of the country and household net worths are rising, too. Therefore, we can infer from the Retail Sales report that U.S. consumers are starting to feel better about their individual finances, and about the economy overall.

To homebuyers and rate shoppers, strong Retail Sales data may foreshadow higher rates for mortgages ahead.  This is because sales data is a by-product of consumer spending and consumer spending accounts for more than two-thirds of the economy.

As spending increases,..........

Read the COMPLETE BLOG POST HERE:

Strong Retail Sales Data Could Lead To Higher Mortgage Rates In January

 

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Chris is Florida's #1 FHA Mortgage Broker and a syndicated mortgage blogger. He is regular contributor to the three leading industry blog-fronts including The Mortgage Chili Blog, My FHA Mortgage Blog, Top of Mind Networks, the newest contributor to Lenderama and recently featured on Fox35 News.

Chris can be found at
Orlando FHA Loans,
Chris[at]OrlandoMortgagePro[dot]com,
or by calling 407.377.0500 x 210

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Chris Brown 12/14/2009 12:27 AM
Location:
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Rainmaker
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Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

It is a very good sign for the overall economy.  Not sure about Central Florida's though.  Prices were down and inventory up last month.  Seems like things are still pretty sluggish here.

Dec 14, 2009 03:15 AM #1
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Chris Brown- Florida Home Loan Specialist | Certified Mortgage Planner

Chris Brown 407.367.2974
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