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Why More Talk Of Recession Makes Mortgage Rates Fall

Posted on January 16, 2008
Filed under On Recession
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Because consumer spending makes up two-thirds of the economy, this sort of marked slowdown has farther-reaching implications than just at the cash register for U.S. retailers.

As many people predicted, Americans really did spend less this past Holiday Season and now mortgage rates are falling because of it.

Weak receipts in December capped off a year in which consumer spending posted its slowest year-over-year growth since 2002. 

Because consumer spending makes up two-thirds of the economy, this sort of marked slowdown has farther-reaching implications than just at the cash register for U.S. retailers.

Let's do a quick flashback to mid-October 2007.

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