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

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

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

Jan 05

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

January 5, 2012 By Joshua Oliver 8 Comments

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...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Friday, Jobs, Mortgage loan, Non-Farm Payroll, Non-Farm Payrolls, Unemployment Rate, United States, Wall Street, washington dc

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

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

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