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

Dec 03

A Look At This Week’s Mortgage Rates : December 3, 2012

December 3, 2012 By Justin Paulhamus Leave a Comment

Low mortgage rates are pumping up home affordability. Average 30-year fixed-rate mortgage rates made a new all-time low in November, continuing this year Refinance Boom and giving fuel to the budding housing market recovery. At month-end, Freddie Mac's survey of 125 banks nationwide put the benchmark product's rate at 3.32% for borrowers willing to pay 0.8 discount points. This is just 0.01 percentage point above the record-low rate establishing prior to Thanksgiving. The 15-year fixed … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Ben Bernanke, Case-Shiller Index, Consumer Confidence, Freddie Mac, Gross Domestic Product, Mortgage loan, Unemployment, United States Department of Commerce, Wall Street

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

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

Feb 14

Fewer Jobless Claims Suggests Higher Home Prices Ahead

February 14, 2012 By Joshua Oliver 1 Comment

Economists believe the strength of the 2012 housing market will be closely tied to jobs. If they're right, the housing market is ripe for a boost. It spells good news for District of Columbia home sellers and may mean the end of bargain-basement prices for buyers. Since peaking in mid-2009, the number of U.S. workers filing for first-time unemployment benefits has dropped 44 percent. Over the same period of time, the U.S. economy has added more than 2 million jobs and the national … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Buyer, Department of Labor, Federal Housing Administration, Initial Jobless Claims, Jobless claims, Jobs, Labour economics, Real estate economics, Real estate pricing, Unemployment, United States

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

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

Aug 11

Strong Job Growth In July Trumped By Credit Downgrade

August 11, 2011 By Ariana Lazar Leave a Comment

More Americans are getting back to work. The latest Non-Farm Payrolls survey from the Bureau of Labor Statistics shows that 117,000 net new jobs were created in July, thumping analyst estimates and surprising Wall Street investors. In addition, May and June's originally-reported figures were both revised higher: May 2011 was revised higher by 28,000 jobs June 2011 was revised higher by 28,000 jobs The national Unemployment Rate slipped to 9.1 percent. The jobs report's strong … [Read more...]

Filed Under: Buying Real Estate in Washington, DC, Selling Real Estate in Washington, DC Tagged With: Bureau of Labor Statistics, Dow Jones Industrial Average, Jobs, Mortgage loan, Non-Farm Payrolls, Standard & Poors, Unemployment, Unemployment Rate

Jul 07

Economy Expected To Have Added 80,000 Jobs In June

July 7, 2011 By Barry Epstein Leave a Comment

Friday morning, at 8:30 AM ET, the Bureau of Labor Statistics releases its June Non-Farm Payrolls report. If you're currently shopping for a mortgage, or floating a mortgage rate, be prepared. Mortgage rates can change following the monthly report's release. Often, by a lot. More commonly called "the jobs report", Non-Farm Payrolls reports on the U.S. workforce by sector, summarizing its findings in terms of total workforce size, and as a national Unemployment Rate. Jobs are considered a … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: Bureau of Labor Statistics, Consumer Spending, Jobs, mortgage, Mortgage loan, Non-Farm Payrolls, Unemployment, Unemployment Rate