Softer Consumer Spending?
I was watching television this week and saw a commercial for .9 APR on a vehicle. The next day I saw a Starbucks commercial advertising more credits for reward cards. I don't watch television much so I don't know how common this is, but I can't remember the last time I saw car makers offering that low of a rate. Has anyone else seen signs of softer consumer spending?
I’m concerned that softer consumer spending may make it more difficult for me to get a mortgage in the coming months. I live in a small town and have been looking to house hack a multi family for the past month, but not much inventory so I continue to wait.
I haven't seen major signs of soft consumer spending. I went to a mall yesterday and it was packed. I was shocked. This is absolutely anecdotal experience and not data, but it's in line with everything else I see. As long as you keep bringing in income, it seems likely to me you'll be able to get a mortgage. Lending standards are different this time around. I doubt we'll have another mortgage availability issue like we did last time. If we do, it's a way down the road.