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Essay / Research Paper Abstract
A 3 page paper discussing expectations for the housing market and particularly in terms of mortgage interest rates. The US economy continues to issue surprises. Many believed that mortgage interest rates would increase dramatically with the end of the post-9/11 recession, but such has not been the case. Not only have mortgage interest rates not increased at the pace anticipated earlier, they also are not expected to greatly increase in 2005 and into 2006. Bibliography lists 4 sources.
Page Count:
3 pages (~225 words per page)
File: CC6_KSeconUSmortIntR.rtf
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Unformatted sample text from the term paper:
continues to issue surprises. Many believed that mortgage interest rates would increase dramatically with the end of the post-9/11 recession, but such has not been the case. Not
only have mortgage interest rates not increased at the pace anticipated earlier, they also are not expected to greatly increase in 2005 and into 2006. Current Economic Conditions
The most recent edition of the Federal Reserve Boards "Beige Book" presents an economic picture that looks far more promising than that of only several
months ago. Unemployment is down; more jobs have been created over recent months; consumer spending appears to be strong though retailers are grousing that they have had to resort
to discounting early in the Christmas sales season. The tax cuts received by most Americans in the past months appear to have been used by most households to reduce
debt. Businesses are cautiously preparing for better economic times: most of the twelve Federal Reserve districts report "modest increases in both capital spending and hiring" (Beige Book, 2004).
Manufacturing activity has increased slightly since the publication of the previous edition of the Beige Book, but businesses across the country continue to express concern over rising energy costs.
To date, however, there is no evidence that significant pressures on either wages or prices are accompanying present growth. Analysis In the absence
of wage and price pressures, it can be assumed that for the present, inflation will not be an overriding issue that will require direct attention from the Federal Reserve.
One of the features of the long period of expansion throughout the 1990s was that growth continued without undue inflationary pressures, and as a result the Fed did not need
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