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Consumer Confidence Wanes on Lower Employment Figures
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You're Now Reading:
Consumer Confidence Wanes on Lower Employment Figures
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
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Receive Multiple Offers. Save Money.
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Consumer Confidence Wanes on Lower Employment Figures
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May 3, 2012 (Chris Moore)

Consumer confidence was largely unchanged in April as the dismal employment gains during the month took some of the wind out of the sails in the recent run-up in consumer confidence according to the latest Surveys of Consumers by Thomson Reuters/University of Michigan.

In February and March, a record number of the consumers who were surveyed spontaneously reported hearing about recent unemployment gains, but that ended in April.

When asked specifically about what changes they expected in the unemployment rate, consumers responded that they felt future declines in the unemployment rate were less likely. Despite the setback in job growth in April, consumers still remained hopeful and overall references to employment conditions remained positive.

Consumer’s views of their own personal finances however, continued to be dismal.

For the 40th consecutive month, more consumers responded that they did not expect an increase in their income in the year ahead and only one-in-four of the households surveyed said that they expected their personal finances to improve over the next year.

Two of the three indices that make up the Index of Leading Economic Indicators still posted gains in March, but all three indicators were above last year’s levels for the second consecutive month.

The Consumer Sentiment Index climbed 0.3 percent to 76.4 in March, up from 76.2 in February and up 9.5 percent from 69.8 in March of last year.

The Consumer Expectations Index increased to a level of 72.3 in March, up 3.6 percent from a level of 69.8 in February and was up 17.4 percent from a level of 61.6 in March 2011.

The Current Conditions Index fell 3.6 percent to 82.9 in March, down from 86.0 in February but was still 0.5 percent higher than the reading of 82.5 in March of last year.

Richard Curtin, Surveys of Consumers chief economist stated, “The main challenge to building a lasting economic recovery is renewed job and income growth as well as reducing uncertainty about future federal tax and spending policies. To avoid the mid-year relapses of the prior two years, it would be best to quickly reduce uncertainty about future tax rates which are now scheduled to increase at the start of 2013. If no decision about bridging the fiscal cliff is made until after the November election, consumers are likely to become more cautious spenders, especially higher income households toward year end, and those delayed spending decisions will become more widespread the closer the election.”

Tags: Surveys of Consumers, Reuters/University of Michigan, consumers, economic slowdown, finances, recession, financial expectations

Source:
Thomson Reuters/University of Michigan

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May 3, 2012 (Chris Moore)

Consumer confidence was largely unchanged in April as the dismal employment gains during the month took some of the wind out of the sails in the recent run-up in consumer confidence according to the latest Surveys of Consumers by Thomson Reuters/University of Michigan.

In February and March, a record number of the consumers who were surveyed spontaneously reported hearing about recent unemployment gains, but that ended in April.

When asked specifically about what changes they expected in the unemployment rate, consumers responded that they felt future declines in the unemployment rate were less likely. Despite the setback in job growth in April, consumers still remained hopeful and overall references to employment conditions remained positive.

Consumer’s views of their own personal finances however, continued to be dismal.

For the 40th consecutive month, more consumers responded that they did not expect an increase in their income in the year ahead and only one-in-four of the households surveyed said that they expected their personal finances to improve over the next year.

Two of the three indices that make up the Index of Leading Economic Indicators still posted gains in March, but all three indicators were above last year’s levels for the second consecutive month.

The Consumer Sentiment Index climbed 0.3 percent to 76.4 in March, up from 76.2 in February and up 9.5 percent from 69.8 in March of last year.

The Consumer Expectations Index increased to a level of 72.3 in March, up 3.6 percent from a level of 69.8 in February and was up 17.4 percent from a level of 61.6 in March 2011.

The Current Conditions Index fell 3.6 percent to 82.9 in March, down from 86.0 in February but was still 0.5 percent higher than the reading of 82.5 in March of last year.

Richard Curtin, Surveys of Consumers chief economist stated, “The main challenge to building a lasting economic recovery is renewed job and income growth as well as reducing uncertainty about future federal tax and spending policies. To avoid the mid-year relapses of the prior two years, it would be best to quickly reduce uncertainty about future tax rates which are now scheduled to increase at the start of 2013. If no decision about bridging the fiscal cliff is made until after the November election, consumers are likely to become more cautious spenders, especially higher income households toward year end, and those delayed spending decisions will become more widespread the closer the election.”

Tags: Surveys of Consumers, Reuters/University of Michigan, consumers, economic slowdown, finances, recession, financial expectations

Source:
Thomson Reuters/University of Michigan

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
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FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

May 3, 2012 (Chris Moore)

Consumer confidence was largely unchanged in April as the dismal employment gains during the month took some of the wind out of the sails in the recent run-up in consumer confidence according to the latest Surveys of Consumers by Thomson Reuters/University of Michigan.

In February and March, a record number of the consumers who were surveyed spontaneously reported hearing about recent unemployment gains, but that ended in April.

When asked specifically about what changes they expected in the unemployment rate, consumers responded that they felt future declines in the unemployment rate were less likely. Despite the setback in job growth in April, consumers still remained hopeful and overall references to employment conditions remained positive.

Consumer’s views of their own personal finances however, continued to be dismal.

For the 40th consecutive month, more consumers responded that they did not expect an increase in their income in the year ahead and only one-in-four of the households surveyed said that they expected their personal finances to improve over the next year.

Two of the three indices that make up the Index of Leading Economic Indicators still posted gains in March, but all three indicators were above last year’s levels for the second consecutive month.

The Consumer Sentiment Index climbed 0.3 percent to 76.4 in March, up from 76.2 in February and up 9.5 percent from 69.8 in March of last year.

The Consumer Expectations Index increased to a level of 72.3 in March, up 3.6 percent from a level of 69.8 in February and was up 17.4 percent from a level of 61.6 in March 2011.

The Current Conditions Index fell 3.6 percent to 82.9 in March, down from 86.0 in February but was still 0.5 percent higher than the reading of 82.5 in March of last year.

Richard Curtin, Surveys of Consumers chief economist stated, “The main challenge to building a lasting economic recovery is renewed job and income growth as well as reducing uncertainty about future federal tax and spending policies. To avoid the mid-year relapses of the prior two years, it would be best to quickly reduce uncertainty about future tax rates which are now scheduled to increase at the start of 2013. If no decision about bridging the fiscal cliff is made until after the November election, consumers are likely to become more cautious spenders, especially higher income households toward year end, and those delayed spending decisions will become more widespread the closer the election.”

Tags: Surveys of Consumers, Reuters/University of Michigan, consumers, economic slowdown, finances, recession, financial expectations

Source:
Thomson Reuters/University of Michigan

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.