October Jobs Report Blows Away Estimates; Mortgage Rates Falling

Nov 06

October Jobs Report Blows Away Estimates; Mortgage Rates Falling

November 6, 2012 By Justin Paulhamus Leave a Comment

Another month, another good showing for the U.S. economy. Mortgage rates are performing surprisingly well after Friday's release of the October 2012 Non-Farm Payrolls report. The Bureau of Labor Statistics' monthly report beat Wall Street expectations, while also showing a giant revision to the previously-released job tallies of August and September. 171,000 net new jobs were created last month against calls for 125,000 and revisions for the two months prior totalled … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Bureau of Labor Statistic, Economy of the United States, Jobs, Mortgage loan, mortgage rates, Non-Farm Payrolls, Point (mortgage), report, Unemployment, Unemployment Rate, Wall Street

Mar 14

A Simple Explanation Of The Federal Reserve Statement (March 13, 2012)

March 14, 2012 By Joshua Oliver 2 Comments

Tuesday, the Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent. For the fourth consecutive month, the Fed Funds Rate vote was nearly unanimous. Just one FOMC member dissented in the 9-1 vote. The Fed Funds Rate has been near zero percent since December 2008. It is expected to remain near-zero through 2014, at least. In its press release, the Federal Reserve noted that the the U.S. economy has "expanded … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Economy of the United States, Fed Funds Rate, Federal funds rate, Federal Open Market Committee, Federal Reserve, Federal Reserve System, FOMC, Inflation, Mortgage loan

Feb 28

Federal Reserve Wary Of European Spillover

February 28, 2012 By Joshua Oliver 1 Comment

The Federal Reserve has released the minutes from its 2-day meeting January 24-25, 2012. The Fed Minutes is a summary of the conversations and debates that shape our nation's monetary policy. It receives less attention than the Fed's more well-known, post-meeting press release, but the Fed Minutes is every bit as important. To rate shoppers in District of Columbia , for example, the Fed Minutes can provide clues about whether mortgage rates will generally rise or fall in the coming … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Economy of the United States, Fed Funds Rate, Federal funds rate, Federal Reserve, Federal Reserve System, FOMC, Inflation, Monetary policy, Mortgage loan, Unemployment, washington dc

Jan 12

Fed Minutes Show An Improving U.S. Economy Threatened By The Eurozone

January 12, 2012 By Joshua Oliver Leave a Comment

The Federal Reserve has released the minutes from its most recent Federal Open Market Committee meeting. The Fed Minutes are a detailed meeting recap; the companion piece to the more brief, more well-known press release. As a comparison, the minutes of the last FOMC meeting contained 60 paragraphs and 7,027 words. The post-meeting press release was just 5 paragraphs and 382 words. December's Fed Minutes shows Fed members with a positive, cautious, take on the economy. Recent data … [Read more...]

Filed Under: Buying Real Estate in Washington, DC, Selling Real Estate in Washington, DC Tagged With: Ben Bernanke, District of Columbia, Economy of the United States, Eurozone, Fed Funds Rate, Federal funds rate, Federal Open Market Committee, Federal Reserve, Federal Reserve System, FOMC, Home Affordability, washington dc

Jan 11

Home Affordability Set To Worsen On Thursday’s Retail Sales Data

January 11, 2012 By Jessica Wilkie 1 Comment

Retail Sales Worsen Housing Affordability

Consumer spending continues to rise nationwide, fueled by jobs growth and a rosier outlook for the U.S. economy. Unfortunately for mortgage rate shoppers in Washington DC, it may also lead to higher mortgage rates later this week. Thursday morning, the Census Bureau will release its U.S. Retail Sales data for December. The report is expected to show an 18th consecutive monthly increase, with analysts projecting sales volume higher by 0.4 percent from November. This would be double the … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Consumer Spending, District of Columbia, Economy of the United States, housing values, Mortgage loan, Non-Farm Payrolls, real estate, Retail Sales, Retailing, Stock market, Thursday, United States Census Bureau

Dec 13

A Simple Explanation Of The Federal Reserve Statement (December 13, 2011 Edition)

December 13, 2011 By Justin Paulhamus 5 Comments

Tuesday, the Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent. The vote was nearly unanimous for the second straight month. Just one FOMC member dissented in the vote, favoring additional policy stimulus beyond what the Federal Reserve currently provides. In its press release, the Federal Reserve sais that the the U.S. economy is improving, noting that since its November 2011 meeting, the economy has been … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Ben Bernanke, Economy of the United States, Eurozone, Fed Funds Rate, Federal funds rate, Federal Open Market Committee, Federal Reserve, Federal Reserve System, FOMC, Mortgage loan, United States Treasury security

Nov 02

A Simple Explanation Of The Federal Reserve Statement (November 2, 2011 Edition)

November 2, 2011 By Justin Paulhamus Leave a Comment

Wednesday, the Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent. The vote was nearly unanimous, with just one dissenting voter. There were 3 dissenters at each of the FOMC's last two meetings. In its press release, the Federal Reserve presented an improved outlook for the U.S. economy, noting that since its last meeting in September, there's new evidence that the economy "strengthened somewhat" in the third … [Read more...]

Filed Under: Buying Real Estate in Washington, DC, Selling Real Estate in Washington, DC Tagged With: Economy of the United States, Fed Funds Rate, Federal funds rate, Federal Open Market Committee, Federal Reserve System, FOMC, Monetary policy, Mortgage loan, Operation Twist, washington dc

Oct 13

Retail Sales Expected To Rise; Mortgage Rates Should Rise, Too

October 13, 2011 By Justin Paulhamus Leave a Comment

The American Consumer is alive and well, it seems. Friday morning, the Census Bureau will release its Retail Sales figures for September. The report is expected to show an increase in gross receipts for the 15th straight month with analysts predicting a 0.6 percent increase from August. The projected increase represents the largest jump in Retail Sales in six months and would likely lead mortgage rates higher for buyers in DC and nationwide. The connection between Retail Sales and … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Census Bureau, Consumer Spending, Economy of the United States, Federal Housing Administration, Mortgage loan, Percentage, report, Retail Sales, Retailing, United States

Sep 07

As Jobs Tally Fades, Mortgage Rates Fall

September 7, 2011 By Mark Mlakar 2 Comments

The U.S. economy is no longer adding new jobs. Last Friday, in its monthly Non-Farm Payrolls report, the Bureau of Labor Statistics reported that the U.S. economy added exactly zero new jobs in August as the national Unemployment Rate held steady at 9.1 percent. Despite the "zero" reading, the jobs figures were in the red. This is because the BLS issued revisions to its June and July figures that adjusted the two months of data down by 58,000 jobs. Economists had expected a monthly … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Bureau of Labor Statistics, Economy of the United States, Federal Reserve System, Mortgage loan, Non-Farm Payrolls, Unemployment, Unemployment Rate

Aug 09

A Simple Explanation Of The Federal Reserve Statement (August 9, 2011 Edition)

August 9, 2011 By Mark Mlakar Leave a Comment

Tuesday, the Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent. The vote was 7-3 — the first time in 5 meetings that the nation's Central Bank was non-unanimous and the first time since 1992 that the FOMC adjourned with as many as three dissenters. In its press release, the FOMC had little good to say about the U.S. economy, noting that since its last meeting in June: Growth has been "considerably slower" … [Read more...]

Filed Under: Buying Real Estate in Washington, DC, Selling Real Estate in Washington, DC Tagged With: Ben Bernanke, Economy of the United States, Fed Funds Rate, Federal funds rate, Federal Open Market Committee, Federal Reserve System, FOMC, Mortgage loan, washington dc