I've been monitoring the economy lately. It's a great time of year to do this! I look at major factors that could impace the housing market. These are:
Consumer spending
Durable Goods
Inflation
These are just three of many factors that contribute to the economy, but these are the three big ones! After the thankgiving weeend, reports were posted that consumer spending was the lowest in 10 years! This is not so good for stocks, but great for mortgage rates!
Durable goods are also down with another 10 year number making investors worried that 2007 will be a light spending year.
The best part of the early weeks economic news was that inflation is "tame" according to Bernanke (Fed Chief).
All of this news brings mortgage rates to thier lowest since January of this year and hovering near the 40 year low. So, more buyers can afford more house!
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