Richard's Real Estate Thoughts - Chattanooga TN Mortgage Lender: November 2009

It's over - unofficially anyway

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.

Richard Smith
NMLS 184479

Cell:
423-280-0345
Toll Free: 888-474-9920
Office: 423-899-6898

American Acceptance Mortgage, Inc
NMLS 132505, TN/GA Licensee

Email: rsmith@aamonline.com

FHA, VA, Rural Development, Conventional, Jumbo,
Reverse Mortgages, FHA 203k Renovation


Home financing in Tennessee and Georgia.

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Richard Smith
NMLS# 184479 TN# 104002 GA# 28928 

Conventional, FHA, FHA 203k, HUD $100 down purchases, VA,

Rural Development ( USDA), and Jumbo Loans


Lending in Chattanooga, Tennessee and Georgia for over 20 years.

Sierra Pacific Mortgage

Cell phone: 423-280-0345 Email: Richard.Smith@SPM1.com

Visit my website to inquiry about a home loan.

Read my most recent articles in Scotsman Guide.

This blog represents the opinions of Richard Smith. The posts and comments written on the blog do not represent the opinions or positions of Sierra Pacific Mortgage. 

Comment balloon 5 commentsRichard Smith • November 19 2009 04:10PM
It's over - unofficially anyway
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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,… more
RESPA changes will hurt consumers
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The more I look over the HUD RESPA changes that start January 1, the worse they seem. The latest version of the RESPA FAQ is an astonishing 49 pages long. HUD has simplified the Good Faith Estimate by making it 3 pages rather than… more
Mortgage Insurance Companies - losses increase concerns
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Tax Credit Extended and Expanded - Signing today
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Congratulations Red Bank Lions 10-0 and Ranked 1
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Congratulations to the Red Bank Lions football team Last week they finished regular season play undefeated and with the number 1 ranking in the state. Tomorrow they begin their playoff run. Anything can happen of course, but this is a… more
The employment factor
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As the economy starts the turn around, employment becomes more important measure of the strength and sustainability. As a lagging indicator, employment gains will always trail recovery, but families and the economy need more jobs. The job creation… more