US Economic Data Points To Growing Economy

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Peoples Home Equity comments on today's economic data points which are influential to real estate.

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Today’s GDP number marks the 10th consecutive quarter that gross domestic product has expanded.

Peoples Home Equity found today’s economic data very positive for the housing market. As released today by the U.S. Bureau of Economic, U.S. GDP grew 2.8% in the second quarter. Markets also learned, from the U.S. Department of Labor, that continuing jobless claims declined 91,000 from November 9th to the 16th, an impressive -3.17% decline.

Today’s GDP number marks the 10th consecutive quarter that gross domestic product has expanded. Further, GDP has actually expanded for 16 of the past 17 quarters since the finance and loans crisis of 2008-2009 GDP. This information should be interpreted as a serious premonition that Fed policy regarding its asset repurchase program will change. Prospective homebuyers should, at the very least, begin mentally preparing for a higher interest rate environment. Markets will push rates higher as more positive economic statistics are released. However, mentally preparing is not sufficient, Peoples Home Equity encourages all Americans who are thinking of buying a home in the next 6 months to find out how much money they may borrow to do so. The lenders website,, offers many online tools to calculate important financial elements such as, “How much do I have to earn?” or “How much will my tax deduction be?”

Apart from the GDP announcement influencing mortgage rates and Fed policy, readers should notice the positive effects of today’s numbers in continuing jobless claims. Continuing jobless claims refers to the number of individuals who are currently receiving unemployment benefits who had filed for benefits at least two weeks prior. The decline in continuing claims certainly gives hope that we may see a rebound in mortgage applications ending for last week. As more people have jobs, more individuals can apply for a mortgage. Peoples Home Equity offers many home loan options to help get everyone with a sufficient credit score into a house. Be it an FHA, conventional, or veteran mortgage the lender goes the extra mile to help all Americans buy their preferred property.    

Please contact Peoples Home Equity loan officer today for mortgage details at: (855)-897-0300

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