Consumer Sentiment Dips in April
By Stevie Duffin Updated on 9/25/2013According to a report released by University of Michigan today, the consumer sentiment dropped slightly for April. The index slipped to 75.7 from 76.2 in March. The March number was actually a 13-month high and one of the highest readings of the index since the start of the recession. This dip was below what the analysts had projected which was a stable reading at 76.2.
Experts say that this drop in consumer sentiment, coupled with an increase in unemployment claims, are a recipe for a disappointing month of April. The stock market also moved down becuase of the consumer sentiment number.
What seems to have contributed to the drop in sentiment is rising gas prices and the recent dip in the stock market. Even though in the real estate market, some newly launched government programs such as the HARP 2.0 Refinance Program are attempting to kick-start the segment, the overall economy and consumer sentiment is still shaky.
On the bright side however, despite the current drop to a four-month low, future expectations has actually risen to the highest point in two-and-a-half years so hopefully we have some better times ahead.
Related Searches:
About The Author:
Stevie Duffin
Stevie is the Senior Editor at Lender411. She manages the site's Authorship Program and social media pages. Stevie graduated from UC Santa Barbara with a BS. Contact her: stevie@lender411com.
-
What You Need To Know About Escrow
View More
-
President Obama Initiates Lower FHA Mortgage Insurance Premiums
View More
-
What is Quantitative Easing?
View More
-
The 5 New Mortgage and Housing Trends for Summer 2013
View More
-
Fannie Mae profitability skyrockets
View More
-
Foreclosure protections for more soldiers after lawmakers draft bill
View More
-
FHFA: HARP success follows low mortgage rates, February refinance volume strong
View More
-
Use of Mortgage Interest Deduction Depends on Where You Live
View More
-
HUD will sell 40,000 distressed loans in 2013
View More
-
Mortgage Principal Reduction Could Save Taxpayers $2.8 Billion
View More
-
Mortgage Applications Regain Traction after Sluggishness, Rates Continue to Fall
View More
-
HARP 3.0 Discussions Reveal Little Hope for HARP Update
View More
-
Home Prices Rise in February According to LPS Data
View More
-
Balancing Act: House Committee Hears Opposing Viewpoints Over Mortgage Interest Rate Deduction
View More
-
Near Record Low Mortgage Rates Buoy Housing Recovery
View More
Related Articles
Featured Lenders
LSI Mortgage Plus
Saint Louis, MO
RBS Citizens
Clifton Park, NY