Low consumer price inflation helps consumers by supporting purchasing power, but it also has another key impact on the housing market; it helps to keep mortgage rates low. And mortgage rates are indeed low. In our Primary mortgage market survey, U.S. weekly average 30-year fixed mortgage rates peaked at 4.3 percent in March, but then trended.
I must be mad, because after multiple mortgage refinances, I’ve decided to take my own advice on improving my cash flow further by trying to refinance my mortgage again! I say ‘trying’ because getting a mortgage or refinancing a mortgage is still not a slam dunk like it was pre-2007. Lending standards are strict with ~740 being the average credit score for denied mortgage applicants.
· The unemployment rate fell to a five-decade low of 3.6% from 3.. A likely factor is that steady job growth and solid wage increases have enlarged Americans’ paychecks.. Mortgage rates.
Weak May Jobs Growth Keeps Mortgage Rates Insanely Low finance.yahoo.com – June 7 at 4:04 pm: freddie mac prices 5 million Multifamily K-Deal, K-LU1 finance.yahoo.com – June 7 at 4:04 PM: Federal Home Loan Mortgage (FMCC) Receives Daily News Sentiment Rating of -3.00 www.americanbankingnews.com – June 7 at 10:51 AM
The first Friday of every month, the government estimates how many jobs were created or eliminated the previous month. May was pretty bad, but paradoxically, bad jobs growth will help keep rates in.
The third straight monthly decline in permits left them below the housing starts level, suggesting single-family homebuilding may remain weak in the. "ongoing job growth, rising demand and low.
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A gauge of domestic demand rose at just a 1.7 percent rate, which economists said was insufficient to encourage the Federal Reserve to trim its bond purchases. The Fed has been buying $85 billion in.
Despite the very weak February, job growth has averaged 186,000 over the past three months, well above the pace needed to keep up with underlying growth in the labor force (see Chart 1). The unemployment rate fell to 3.8 percent in February from 4.0 percent in January as government workers who had been
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– Weak May Jobs Growth Keeps Mortgage Rates Insanely Low – *This comes with a ridiculous 12.9% margin of error, so as always, we have to wait until next month’s revisions to fully make sense.