WS #15081
FICO scores have plunged 22% following an FHFA mortgage pricing grid move, compounding the negative impact of a collapsing consumer confidence index at 81.9. Job openings are low and hiring is weak, indicating a labor market that is not improving. This combination of financial stress and weak employment is a strong bearish signal for the housing sector and consumer discretionary spending.
Housing and Financial Stress
FICO scores have plunged 22% following an FHFA mortgage pricing grid move, compounding the negative impact of a collapsing consumer confidence index at 81.9. Job openings are low and hiring is weak, indicating a labor market that is not improving. This combination of financial stress and weak employment is a strong bearish signal for the housing sector and consumer discretionary spending.