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...]
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...]
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...]
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...]
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When It Pays To Refinance Your Mortgage -- Literally
