What's on the horizon for consumer sentiment?
The University of Michigan's Survey of Consumers collects data from approximately 500 households and asks questions pertaining to consumer attitude and consumer sentiment on their financial status and attitudes about the economy. The sentiment index level for January was at 98.5 percent, which is a 0.3 percent increase from December 2016.
Richard Curtin, the chief economist of the Consumer Survey, stated that consumers “anticipated the most positive outlook for their personal finances in more than a decade” in last month’s findings.
Business Insider noted that consumer confidence has surged in the wake of the election of President Trump, as improved outlooks for growth and jobs have strengthened the index.
Curtin cited that the consumer sentiment might have led to an increase in mortgage rates. “Consumers have become more convinced that the stronger economy would finally prompt the Fed to increase interest rates at a quicker pace, which caused one-in-five consumers to favor borrowing-in-advance of anticipated increases in mortgage rates, the highest level in more than twenty years,” he said.
Will consumer sentiment remain on the ascent for February?
DS News Speaks with Adam Johnson
Next week, DS News will speak with Adam Johnston, Chief Appraiser and Director of Investigations for Genworth Financial’s U.S. mortgage insurance business and board member at the Appraisal Foundation. Genworth will also release their latest financial results next week.
In his role with Genworth, Johnston manages a team of review appraisers who provide appraisal support to all U.S. mortgage insurance functions. In addition to his 25 years of appraisal experience, he is a former police officer and served in the United States Marine Corps. A Certified Residential Appraiser in several states, Johnston is a designated member of the Appraisal Institute, with the SRA and AI-RRS designations.
Johnston will talk about what his focus will be as a board member for the Appraisal Foundation, and why the appraisal industry is largely overlooked in the mainstream media despite being so important to the homebuying process. He’ll also talk about the effects Dodd-Frank had on the appraisal industry, and what changes he believes needs to be made in the industry going forward.
This Week’s Schedule
Monday, February 6
Labor Market Conditions Index, 10 AM ET
Thursday, February 9
Jobless Claims, 8:30 AM ET
Friday, February 10
University of Michigan’s Survey of Consumers, 9:00 AM ET