Existing-home sales posted another record and the U.S. economy continues to show positive signs as the 3rd quarter real GDP was revised upward for the second month in a row to 4 percent. Several variables reversed their negative trends from prior months. Consumer confidence jumped sharply after five months of declines. Lower energy prices, a rebound in the stock market and positive job growth probably contributed to this very positive turnaround. Businesses continued to add jobs in November, as payrolls are now 1.6 percent larger than one year ago. Adjustable and fixed mortgage rates remained relatively flat from the previous month. Our grading system of the economy and the housing market is a "bell curve" model, with statistics at an all-time high receiving an "A," statistics near the long-term average receiving a "C," and the worst times ever receiving an "F." In this grading system, it is OK to be a "C" student. Here is our current report card: Economic Growth: C Economic growth i...
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