Post-Fiscal Cliff, Mortgage Markets Turn Attention To Jobs Data

Jan 03

Post-Fiscal Cliff, Mortgage Markets Turn Attention To Jobs Data

January 3, 2013 By Joshua Oliver Leave a Comment

Mortgage rates moved higher Wednesday up congressional leaders voted to avoid the "Fiscal Cliff". Mortgage-backed securities (MBS) fell as investors bid up stock prices. Confidence among investors and consumers typically causes mortgage rates to rise. That's what happened Wednesday. For Thursday and Friday, expect jobs data to dictate where District of Columbia mortgage rates are headed. The Federal Reserve has said that the national Unemployment Rate will dictate future monetary … [Read more...]

Filed Under: Buying Real Estate in Washington, DC, Selling Real Estate in Washington, DC Tagged With: Bureau of Labor Statistics, Federal funds rate, Federal Reserve System, Friday, Jobless claims, Jobs, Mortgage loan, Unemployment, Unemployment Rate, Wall Street, washington dc

Oct 09

What’s Ahead For Mortgage Rates This Week : October 9, 2012

October 9, 2012 By Justin Paulhamus Leave a Comment

Mortgage markets worsened last week for the first time in a month as the U.S. economy showed signs of improvement, and the Eurozone stepped closer to launching its $500 billion euro rescue fund. Conforming mortgage rates in DC rose last week on the whole -- even though Freddie Mac's Primary Mortgage Market Survey proclaimed that they fell. This occurred because Freddie Mac's weekly mortgage rate survey is conducted between Monday and Tuesday each week and, last week, mortgage rates were … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Beige Book, Bureau of Labor Statistics, Eurozone, Federal Reserve System, Fixed rate mortgage, Freddie Mac, Greece, Mortgage loan, Non-Farm Payrolls, Wall Street

Aug 09

Improving Market Index Spans 32 States, District Of Columbia

August 9, 2012 By Jessica Wilkie Leave a Comment

80 U.S. metropolitan markets are showing "measurable and sustained growth" this month, according to the National Association of Homebuilders' Improving Market Index. It's good news for the economy and good news for housing. The NAHB's Improving Market Index is meant to identify U.S. markets in expansion. It's a composite of the three distinct data sets which, as a group, present a more holistic view of a given city's growth : From the Bureau of Labor Statistics, the IMI … [Read more...]

Filed Under: Buying Real Estate in Washington, DC, Selling Real Estate in Washington, DC Tagged With: Bureau of Labor Statistics, IMI, Improving Market Index, NAHB, National Association of Home Builder, Real estate pricing, United States Census Bureau, washington dc

May 10

8-Fold Increase In “Improving Markets” Since September

May 10, 2012 By Joshua Oliver 1 Comment

The economic recovery continues nationwide, but the recovery's an uneven one. Some metropolitan areas are faring very well this year, posting measurable gains in both employment and housing. Other metropolitan areas, by contrast, are struggling. To help identify those markets in which growth is occurring, the National Association of Homebuilders created the Improving Market Index, a metric analyzing three separate, independently-collected data series "indicative of improving economic … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Bureau of Labor Statistics, Freddie Mac, IMI, Improving Market Index, Metropolitan area, NAHB, National Association of Home Builders, Real estate pricing, United States

Apr 10

Homes Get More Affordable On March Jobs Data

April 10, 2012 By Jessica Wilkie Leave a Comment

Homes Get More Affordable - Unemployment Rate

Americans continue to get back to work. Last Friday, in its Non-Farm Payrolls report for the month of March, the Bureau of Labor Statistics announced 120,000 net new jobs created, plus combined revisions in the January and February reports of +4,000 jobs. The March report marks the 18th straight month of job growth nationwide -- the first time that's happened in 5 years. The Unemployment Rate dipped in March, too, falling one-tenth of one percent to 8.2%. This is its lowest … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Bond market, Bureau of Labor Statistics, District of Columbia, Employment, Jobs, Mortgage loan, Non-Farm Payrolls, report, Stock market, Unemployment Rate, United States, Wall Street, washington dc

Mar 08

Mortgage Rates Expected To Rise On A Strong Job Report

March 8, 2012 By Joshua Oliver Leave a Comment

With home affordability at an all-time high, buoyed by the lowest mortgage rates ever, it's been a terrific time to buy or refinance a home using a mortgage. The good times may not last, though, so today marks an ideal time to lock a mortgage rate. Friday brings risk. Here's why. Since 2010, weak economic conditions have been a primary catalyst for low mortgage rates in District of Columbia. Over the last 12 months, though, manufacturing output has been rising, consumer spending has been … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Bureau of Labor Statistics, Consumer Spending, Mortgage loan, Non-Farm Payroll, Non-Farm Payrolls, Unemployment Rate, Wall Street, washington dc

Feb 02

Home Affordability Threatened By Friday’s Jobs Report

February 2, 2012 By Joshua Oliver 3 Comments

This week, once more, we find mortgage rates are on a downward trajectory. Conforming mortgage rates have returned to near all-time lows. After Friday morning's Non-Farm Payrolls report, however, those low rates may come to an end. It's a risky time for DC home buyers and would-be refinancers to be without a locked rate. Each month, on the first Friday, the Bureau of Labor Statistics releases its Non-Farm Payrolls report for the month prior. More commonly called the "jobs report", … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Bureau of Labor Statistics, District of Columbia, Friday, Jobs Report, Mortgage loan, Non-Farm Payroll, Non-Farm Payrolls, report, Unemployment, Unemployment Rate, Wall Street

Dec 01

Friday’s Jobs Report Represents A Big Risk To Low Mortgage Rates

December 1, 2011 By Justin Paulhamus 2 Comments

Have you been floating a mortgage rate? It may be time to lock. At 8:30 AM ET Friday, the government's Bureau of Labor Statistics will release its November Non-Farm Payrolls report. Better known as "the jobs report", the monthly Non-Farm Payrolls figures provide sector-by-sector employment data, and tally the size of the current U.S. workforce size. From these two elements, the national Unemployment Rate is derived. Since topping out at 10.2% in October 2009, the Unemployment Rate has … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Bureau of Labor Statistics, Freddie Mac, Jobs Report, Mortgage loan, Non-Farm Payrolls, Point (mortgage), real estate, Unemployment Rate, washington dc

Nov 02

More Risk To Home Affordability : Friday’s Jobs Report

November 2, 2011 By Joshua Oliver 1 Comment

Within the next 48 hours, mortgage rates may get bouncy. The Federal Open Market Committee will adjourn from a 2-day meeting and October's Non-Farm Payrolls report is due for release. Of the two market movers, it's the Non-Farm Payrolls report that may cause the most damage. Rate shoppers across District of Columbia would do well to pay attention. Published monthly, the "jobs report" provides sector-by-sector employment data from the month prior. It's a product of the Bureau of Labor … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Bureau of Labor Statistics, Federal Open Market Committee, Federal Reserve System, Jobs Report, Mortgage loan, Non-Farm Payrolls, real estate, Unemployment Rate, washington dc

Oct 06

A Mortgage Rate Strategy Ahead Of Friday’s Jobs Report

October 6, 2011 By Justin Paulhamus 3 Comments

Mortgage rates are prepped to make big moves in the next 36 hours. Is it time for you to call in your rate lock? Friday, at 8:30 AM ET, the Bureau of Labor Statistics will release the Non-Farm Payrolls report for September. Issued monthly, the "jobs report" offers sector-by-sector job creation figures from the month prior, and reports on the national Unemployment Rate. Last month, exactly zero net new jobs were created, the government said. This month, economists expect a net 60,000 new … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Bureau of Labor Statistics, Federal Housing Administration, Jobs Report, Mortgage loan, Non-Farm Payrolls, Unemployment, Unemployment Rate, washington dc

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