Wisconsin's Economic Outlook: Snapshot of the Midwest

According to the Wisconsin Bankers Association CEO Economic Conditions Survey, bank CEO's feel that Wisconsin's economy is weaker than last year at this time, but most feel a recession is not in the cards for 2008. The December 07 survey of 132 Wisconsin Bank CEO's is a forward looking questionnaire geared toward Bank CEO experiences in the previous 6 months and expectations for the next 6 months - in this case the first half of 2008. 52 % of respondents feel that the current health of Wisconsin's Economy is good and 36% feel that it is fair.

In The Next 6 Months

- Residential Loan Demand

60% feel that demand will stay the same

- Commercial Loan Demand

65% feel that demand will stay the same

- Rates

85% feel short-term interest rates will decline

46% feel long-term interest rates will decline

44% feel long-term interest rates will remain the same

In The Past Six Months

- Foreclosures

49% home foreclosures remained the same

49% home foreclosures increased

- Bankruptcy

54% residential and business BK's stayed the same

41% residential and business BK's increased

- Past Dues on Residential Mortgages

50% saw increases

47% stayed the same

Being a broker and small business owner this survey seems like a fair assessment of the state of things right now. Not necessarily sold on the idea that it's a great representation of the midwest as a whole, but I think it's probably not too far off, with the exception of Ohio from what I here.

After a crazy day like today it will be interesting to come back and look things in June!

What Is Your Plan For Success In 2008?

Interesting guest blog over at Savage Insights discussing what the mortgage biz has in-store next year for those of us originating loans. Everythings a little different depending on what part of the country your in, but as with every new year I'm sure there will be new opportunities for driven loan officers.