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Q1 2025 Wrapped: What's Changing In Credit, Mortgages And Consumer Spending

The article from Forbes Advisor discusses the economic outlook for the first quarter of 2025, focusing on mortgage rates and consumer spending. It highlights that despite a slight decrease, mortgage rates are expected to remain high due to persistent inflation and the Federal Reserve's cautious approach to interest rate adjustments. This scenario is likely to keep home affordability challenging, potentially slowing down the housing market. On the consumer spending front, there's an expectation of a slight uptick due to rising wages and a robust job market, although high interest rates might curb big-ticket purchases. The article also notes that consumer confidence could be influenced by economic policy changes, with potential shifts in spending patterns if there are significant policy announcements or economic indicators. Overall, while there are signs of economic resilience, the interplay between high borrowing costs and consumer behavior will be critical in shaping the economic landscape for Q1 2025.

Read the Full Forbes Article at:
[ https://www.forbes.com/advisor/personal-finance/q1-2025-mortgages-and-consumer-spending/ ]