US Confidence Hits Seven-Mo Low

Consumer confidence in the US recently dipped to its lowest point in seven months, even as people felt a bit more positive about current conditions in mid-Q3. The present-conditions index rose by about 7 points to 121, but the expectations gauge dropped roughly 6 points to 68—below the level often associated with recession risk. Early Q3 also saw employers cut 23,000 jobs, and unemployment inched up to around 4%, mainly because fewer people were participating in the labor force rather than because of increased hiring. Despite these shifts, homebuying expectations only eased slightly in mid-Q3 and, in fact, continued to rise. About 61% of people still anticipate interest rates will go higher. With the Federal Reserve keeping rates steady and markets expecting little immediate relief, borrowing costs are likely to remain elevated as we head toward year-end. As someone who guides clients through every facet of buying and selling, I know how important it is to stay informed on these shifts—and to approach each milestone with care and expertise.