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Executive Offices, 225 Littleton Road, Morris Plains, NJ 07950. 1-800-829-CASH. Licensed by the NJ Dept of Banking and Insurance. Licensed Mortgage Banker with the State Dept of Banking in NY and CT. Licensed by the Pennsylvania Department of
Banking, Mortgage Lender 21042. Licensed Lender in AK, AR, DE, MD, D.C., GA, ME, MN, WI, IA, IN, LA, VT, WV, NC, ID, NE, WY, OK, TN, MI. Licensed by the Virginia State Corporation Commission, License #MC297. Certificate of Authority to
transact business in CO. To check the license status of your mortgage loan originator, visit http://www.dora.state.co.us/real-estate/index.htm. Licensed Lender in SC. Licensed Mortgage Lender in TX. Licensed with the Financial Institutions Division in New
Mexico, License # 01297. Licensed by the Department of Corporations under the California Residential Mortgage Lending Act. Licensed Mortgage Broker and Lender Ohio. Licensed Loan Broker and Lender Rhode Island. Licensed Oregon Mortgage Lender
License #ML2528. Illinois Residential Mortgage Licensee, License #MB.0006377. Mississippi Licensed Mortgage Company, License #357/2008. Washington Consumer Loan License # CL-2731. Alabama Consumer Credit License #21213. Mortgage Access
Corp. arranges loans with third-party providers. Equal Housing Lender.
I s s u e 1 5 , V o l u m e 1 2 / M a r c h 2 8 , 2 0 1 4
Dissecting the Positives Hidden in the Data
Tim McLaughlin
The nation's GDP (Gross Domestic Product), the broadest
measure of goods and services produced in the economy,
grew at a 2.6% annual rate in the fourth quarter, according to
the Commerce Department's third reading released Thursday.
That was higher than the agency's previous calculation of
2.4%.
Growth in the fourth quarter slowed from its 4.1% rate in
the third quarter, however, the measure of underlying
economic strength improved.
The latest GDP report showed consumer spending, which
accounts for roughly two-thirds of economic output, rising at
its fastest pace since late 2010. Consumer spending
increased 3.3% in the fourth quarter, up from the previous
estimate of 2.6% and from 2.0% in the third quarter.
Rising consumer spending supports many analysts'
expectations for stronger economic growth this year, despite
weather-related disruptions in the first two months. The fading
effect of last year's tax increases coupled with fast-rising stock
and home values are boosting spending firepower, despite
muted wage gains.
February Retail Sales partially reversed a sharp January
decline, according to a separate Commerce Department
report earlier this month, while healthy consumer-confidence
readings have buoyed hopes that many shopping outings
have merely been delayed because of cold weather.
===============
Secondary Marketing Takeaway: That is good news for
an economy grappling with declining government
expenditures and more recently, unusually harsh winter
weather. Consumer spending picked up late last year more
than previously estimated, putting the economy on stronger
footing ahead of the recent disruptions caused by harsh
weather.
So the real takeaway for us is given the strong
underpinnings of positive economic news and releases,
coupled with the spring market arriving and nicer weather on
the horizon, the housing market is perfectly positioned for a
terrific next couple of quarters. The opportunity to confidently
obtain the perfect home and attractive financing is at your
fingertips. We can help…ask us how!
The Week Ahead -> The “Keys”
- March Employment Data Drives the Week Ahead
Date Economic Release Prediction Last
3/31 Chicago Purchasing Mgrs 59.0 59.8
3/31 Dallas Fed Manufacturing 3.0 0.3
4/1 US Manufacturing PMI 56.0 55.5
4/1 ISM Manufacturing 54.0 53.2
4/1 ISM Prices Paid 59.0 60.0
4/1 Construction Spend (MoM) 0.1% 0.1%
4/1 IBD/TIPP Eco Optimism - 45.1
4/1 Domestic Vehicle Sales 12.25M 11.98M
4/1 Total Vehicle Sales 15.80M 15.27M
4/2 MBA Mortgage Applications` - -3.5%
4/2 ADP Employment Change 190K 139K
4/2 ISM New York - 57.0
4/2 Factory Orders 1.2% -0.7%
4/3 RBC Consumer Outlook Index - 51.8
4/3 Initial Jobless Claims 318K 311K
4/3 Continuing Claims - 2823K
4/3 BB Consumer Comfort - -31.5
4/4 Nonfarm Payroll 195K 175K
4/4 Private Payroll 185K 162K
4/4 Manufacturing Payroll 5K 6K
4/4 Unemployment Rate 6.6% 6.7%
4/4 Avg Hourly Earnings (MoM) 0.2% 0.4%
4/4 Avg Hourly Earnings (YoY) - 2.2%
4/4 Avg Weekly Hours 34.4 34.2