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The Impact of High Mortgage Rates on Home Prices: Insights from Experts
The Federal Reserve's ongoing battle with inflation, which has surpassed 3% for the first three months of 2024, has resulted in mortgage rates ticking up, with the average 30-year mortgage rate now exceeding 7%. With inflation moving unfavorably and interest rates remaining high, prospective homebuyers are left grappling with elevated home prices and borrowing costs.
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The Resilience of the US Consumer: Strong Retail Sales Signal Economic Growth
discusses the robust growth in US retail sales for December, defying recession predictions and showcasing consumer resilience. Key contributors include clothing, general merchandise stores, and e-commerce. Despite concerns about a potential slowdown, consumers continue to drive economic growth. The control group, vital for GDP calculations, saw a significant rise, but experts advise considering total personal consumption expenditures for a comprehensive view. Factors influencing the surge include seasonal shopping, promotions in stores, and e-commerce growth. While positive, concerns about a future slowdown persist, considering factors like employment trends and inflation. In summary, the blog emphasizes consumer resilience, dynamic preferences, and the need for ongoing monitoring of economic indicators to assess the sustainability of consumer spending.
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