Home Market Realty.
By: T. Â Atiq
Licensed Real Estate Broke
The American Consumer will not be deterred.
Despite worsening jobless figures and an increase in the Cost of
Living, Retail Sales are climbing. In June, for the 12th straight month,
retail receipts rose, excluding cars and auto parts.
Analysts expected no change from May.Â Instead, receipts topped $321 billion â€” an all-time record.
For home buyers and would-be refinancers in Brooklyn, NY , this is a
bit of unwelcome news. Mortgage rates are rising in the wake of the
Retail Sales data release.
This is because Retail Sales account for roughly half of consumer spending, and nearlyÂ one-third of the economy overall.Â A rise in Retail Sales, therefore, suggests stronger growth ahead.
Hereâ€™s how it happens.
As consumers spend more money, businesses sell more product. So, to
accommodate burgeoning demand, business hire additional employees, and
are forced to make additional capital expenditures as well.
This rise in spending promptsÂ other businesses to hire and spend; to meet their own respective demand surges. Thereâ€™s a chain reaction-like effect.
Then, with businesses carrying larger payrolls and bigger staffs,
federal, state and local governments realize bigger tax bases and can
fund new and existing projects.
This, too, leads to hiring and the cycle repeats.
A weak economic outlook dragged down mortgage rates last week. This
weekâ€™s Retail Sales data reversed that flow. Mortgage rates are higher
by 1/8 percent â€” roughly $8 per $100,000 borrowed.
Retail Sales are up 8 percent from a year ago.
Whether you are new to the market, thinking of moving up, or
youâ€™re an experienced investor, we have the expertise, proven track
record, and resources to help you buy or sell your next home.
Enthusiasm, knowledge of the area and personal concern for the clientâ€™s
interests combine to make me an outstanding resource for your real
estate transaction. We work extensively to help Buyers and Sellers meet
their real estate goals.
Home Market is Here to Help!
My website provides invaluable information on the Buying and
Selling process and is intended to be easy to use and consumer friendly.
The site makes it convenient for you to preview available properties
and narrow your search before feeling pressured to contact a Realtor. Of
course, when you are ready to discuss your real estate needs and goals,
or if you have any questions, we are always available to help.
When you need the services of a Realtor, why not hire someone that will make you and your real estate goals #1?
1928 Fulton St
Brooklyn, NY 11233