Consumer confidence improves
Posted January 27, 2012
The University of Michigan’s Consumer Sentiment Report came in much higher than expected for January – delivering a reading of 75 – that figure much higher than the 69.9 reading that was delivered in December.
The January reading is the highest figure that we’ve seen in almost a year, and was driven by a stronger jobs picture. This improved confidence level is making its way into housing as well as we’re seeing a significant increase in foot traffic for the first month of 2012 here in the Triangle
Mortgage Rates saw improvement throughout the day on Friday, as Treasury Yields dipped below the 1.90 level just after the markets closed.
The Obama Administration announced some modifications to its own Mortgage Modification program better known as the HAMP or Home Affordable Modification Program. While we don’t have all of the updated changes yet, a couple of noticeable items for you… HAMP has been expanded to investors who rent to tenants, and the program deadline has been extended to December 31, 2013.
I’ll bring you additional program updates as they become available. Have a great weekend.