Consumer Confidence Index Drops Lowest in Two Years
Bloomberg.com is reporting that, despite last week’s interest rate cut, the consumer confidence index was the lowest it has been this September since November 2005. The decline is mainly attributed to declining home values, a deteriorating labor market, and tougher borrowing standards for home loans.
Unfortunately, where interest rates care concerned, "When the news is good, that's bad. And when the news is bad (like the slippage in consumer confidence), that's ultimately good!" Given the multitude of factors leading to the declining trend in consumer confidence, could more cuts from the Fed be in store?
Despite the national market trends, this is still a great time to consider purchasing a home in
