Backed by this graph.
The report addresses many of remaining serious problem - consumer confidence, housing market stability, and JOBS, JOBS, JOBS.
But great encouragement is to be taken with the significant turn around in GDP, evidenced in the chart.
A concern is how much the tax credits have created demand that may not be sustained, and whether consumers will continue to spend.
The report states, "While the improvement in consumer spending may not be durable, it does not mean that the recovery is in doubt. The Conference Board's Index of Leading Indicators, which is a gauge for economic activity over the next six months, increased in September for the sixth consecutive month after reaching its trough in March. The string of gains in the index supports our view that the recovery is taking hold."
On the mortgage side, the report looks for a boost in existing and new home sales spurred by the extension and expansion of the home buyer tax credit. But despite this boost in purchases, overall mortgage orginations are predicted to decline significantly for 2010 as rates tend back upwards.
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Richard Smith |
American Acceptance Mortgage, Inc |
FHA, VA, Rural Development, Conventional, Jumbo,
Reverse Mortgages, FHA 203k Renovation
Home financing in Tennessee and Georgia.
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Thank you for visiting. This is the professional blog for |
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Richard Smith Conventional, FHA, FHA 203k, HUD $100 down purchases, VA, Jumbo VA, Rural Development, Jumbo, FannieMae Homepath, Home Equity Line of Credit (HELOC). |
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Stearns Lending, Inc |
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Cell phone: 423-280-0345 Email: RSmith@Stearns.com |
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This blog represents the opinions of Richard Smith. The posts and comments written on the blog do not represent the opinions or positions of Stearns Lending, Inc. |
