What is happening with our Government and Financial Institutions right now? Well to make a long story short, we have NO choice but to bail out these institutions! If we don't, the reprecussions could be at best a depression! It affects us as homebuyers, sellers, and taxpayers! The benefit as home buyers/sellers is that it frees money up for us to be able to obtain loans or others to obtain loans to buy our homes. The negative impact it has on our economy is we do have to pay for this in the form of higher taxes somewhere! Check out the chart below to see firsthand what this kind of news does to our lending and housing market!
Economic Indicator | Release Date Time | Consensus Estimate | Analysis |
Existing Home Sales | Wednesday, Sept. 24, 2008 | Down 1.4% | Low importance. An indication of mortgage credit demand. A significant decrease may lead to lower rates. |
Durable Goods Orders | Thursday, Sept. 25, 2008 | Down 1.3% | Important. An indication of the demand for "big ticket" items. A larger than expected decrease may lead to lower rates. |
New Home Sales | Thursday, Sept. 25, 2008 | Up 0.5% | Important. An indication of economic strength and credit demand. Weakness may lead to lower rates. |
Q2 GDP final revision | Friday, Sept. 26, 2008 | Up 3.4% | Very important. The aggregate measure of US economic production. Weakness may lead to lower rates. |
U of Michigan Consumer Sentiment | Friday, Sept. 26, 2008 | None | Important. An indication of consumers' willingness to spend. Weakness may lead to lower mortgage rates. |
I just Loooooove Numbers!!! Talk to ya next time!