UMichigan House Buying Conditions Continues Downward Trend (Interest Rate Fears)

This is a syndicated repost courtesy of Snake Hole Lounge. To view original, click here. Reposted with permission.

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The University of Michigan Consumer Survey was released this morning … and it wasn’t good news for housing.  Their index for housing buying condtions declined.

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One of causes of confidence loss? The fear that The Fed will raise rates and unwind too quickly.

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Not to worry with The Fed only unwinding $300 last week.

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Instead of “Give Me Three Steps,” The Fed is singing “Give Me One Itsy-Bitsy Step” to raise rates.

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