National Politics Affect Consumer Confidence

Recent Surveys Show Consumer Confidence Near Record Low Early August market the lowest level of Consumer Sentiment in over 30 years; according to a recent article on MSNBC News. Combined with an increase in consumer spending in the first part of July, the current economic situation is certainly far from simple. With Wall Street and the overall state of the economy tied to the housing market; many are uncertain how mortgage rates will be affected by this. Pundits point to the sharp debate amongst members of Congress over budget deficits and rumors of a Federal Debt Default as likely culprits for late July and early August's drastic upheaval in stocks and the general US economy. Thomson Reuters/University of Michigan conducted the survey of Consumer Sentiment and also reported that survey…
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