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U.s. Consumer Confidence Up, But Fewer People Plan To Buy Homes

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"U.S. April Consumer Confidence Index Rises to 109.6 from 107.5"


Increased optimism suggests there's less of a danger that consumer spending and the economy will be bogged down by rising energy costs and interest rates. Wage gains and the lowest unemployment rate in four years will keep buoying spirits and lift retail sales, economists said.

``Despite the fact that energy prices are creeping up and housing continues to crumble, surveys suggest job gains are providing an offset for confidence,'' Michael Gregory, a senior economist at BMO Nesbitt Burns in Toronto, said before the report. ``The potential is there for consumer spending to remain resilient.''....

Rising mortgage rates may erode home purchases and mortgage refinancing, which has provided a source of cash for consumers. The average rate on a 30-year fixed-rate mortgage rose to 6.53 percent last week, the highest in almost four years, Freddie Mac said.

The share of consumers planning to buy a home in the next six months fell to 2.7 percent in April, the lowest since November 2004, from 4.1 percent. ....

Interest rates may continue to climb. Federal Reserve policy makers will probably raise their benchmark rate for a 16th straight meeting on May 10, to 5 percent, according to economists surveyed by Bloomberg.

Britain is going to have to follow our lead on this. :D

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As ever, it's you boys who are gonna be telling us what to do.

Like we could have lowered our rates to 3.5% if you'd stayed at 6%....

I don't think so.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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