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Mar 08

Mortgage Rates Expected To Rise On A Strong Job Report

Employment Report

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...]

Feb 02

Home Affordability Threatened By Friday’s Jobs Report

Washington DC Real Estate

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...]

Jan 05

Are You Locked ? Friday’s Job Report Will Make Mortgage Rates Move.

Washington DC Unemployment Statistics

If you're floating a mortgage rate, or have yet to lock one in, today may be a good day to call your loan officer. Friday morning, the government releases its Non-Farm Payrolls report at 8:30 AM ET. The Non-Farm Payrolls report is more commonly called the "jobs report" and, lately, it's been Wall Street's domestic economic metric of choice. As jobs go, so go markets. In the 12 months beginning November 2007, the economy shed 2.3 million on its way to losing more than 7 million jobs by … [Read more...]