Washington, DC Real Estate
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...]
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...]
It's a dangerous time for home buyers in District of Columbia to be without a locked mortgage rate. Friday morning, at 8:30 AM ET, the government releases its Non-Farm Payrolls report for September. More well-known as "the jobs report", Non-Farm Payrolls data has the power to move mortgage rates up or down. Unfortunately, ahead of the release, we can't know which. Last year, job growth more than doubled between August and September. If this year shows that same growth, DC mortgage rates … [Read more...]
Mortgage markets improved last week for the second consecutive week. With no news coming from Europe, Wall Street was focused U.S. economic data and Federal Reserve Chairman Ben Bernanke's planned public speech from the Fed's annual retreat in Jackson Hole, Wyoming. Rate shoppers and home buyers in DC caught a break. The housing market was shown to be improving last week, as was the average household income nationwide -- two events which would have typically moved District of Columbia … [Read more...]
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...]
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...]
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...]
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...]
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...]
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...]
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