Yes there is good news out there…

By
Mortgage and Lending with Northeast Bank nmls# 509659

Yesterday was a great day for the real estate market, for interest rates it was an awful day as rates jumped higher in one day than in some time. However, it was a day full of good news that we have been waiting a long time for.

The private payroll data report from ADP was almost twice what was expected for job creation.

ISM (Institute for Supply Management) data which tracks national manufacturing growth reached levels that we have not seen for years. As one commentator put it "manufacturers do not make stuff unless they have a buyer for it" so this is good news, consumers and business may be loosening up a little.

The third piece of good news is that the Fed's Beige Book was released and it showed strength in consumer spending and manufacturing. It was a prettier scenario than last month for sure.

All of these will show and will create more consumer confidence. If a prospective homeowner is confident that they will not lose their job, and with real estate prices and interest rates at all time lows they will be buying again.

Sure there are a lot of people in this country just hanging on, but there are lots of people out there that want to buy a home. For the first time in years the economic numbers are giving them a reason to.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the tshirt to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Topic:
ActiveRain Community
Location:
Maine
Groups:
All About Mortgages/Mortgage Networking
Tags:
good news for the economy
consumer confidence

Comments 3 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the robot to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainer
119,227
Daniel J. Hansmeier

Optimism is good. Show me the money.

December 02, 2010 04:37 PM
Rainer
143,700
Victor Zuniga
Berkshire Hathaway Home Services California Properties

It's hard to sty positive in these tough economic times but your attitude can make such a difference.

December 02, 2010 04:51 PM
Rainer
143,700
Victor Zuniga
Berkshire Hathaway Home Services California Properties

It's hard to stay positive in these tough economic times but your attitude can make such a difference.

December 02, 2010 04:51 PM
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the foot to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainer
129,067

Robert Staab

Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the key to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: