The economy got a little shot of good news with the June employment report. New jobs jumped by 287,000. Which is a far cry better than May’s adjusted 11,000. Overall more than 414,000 people were added to the workforce in June. Nice bump. Unfortunately, the average hourly wage rose by only 2 cents up to $25.61, following a 6-cent hike in…
With Brexit, mortgage rates have fallen to their lowest levels. Also feeding this decline is the lack of growth in the economy. This presents us with yet another good news; bad news scenario. Fannie’s latest Home Purchase Sentiment Index dropped 2.1% from last month. Overall, this index is now down 1.5% since last June.( Sentiment ) This means that people have…
It looks as though the Fed decided to play the cards they were dealt. For now, no announced raise in rates. This is mainly due to inflation running at less than 2%. Just in case you didn’t know, it’s at about 1.2%. Not so hot. (Cool Economy) I’m a little confused (I know, that’s normal). We are told the economy…
Those seeking their first home or affordable housing have had a difficult time recently finding housing that they can actually afford. Millennials and those who lost their homes in the 2008 crash have driven up the cost of rental housing, while other existing homeowners took advantage of the low rates and have already refinanced. This removed many affordable homes from…
The jury is still out on what the overall effects will be from Britain’s exit from the European Union. One thing seems certain, home mortgage interest rates will remain low, and may even decrease further in the short-term. Would that be “Ratefall” or “Lowrates”? That is good news for consumers. With the fed expected to keep rates low, for now,…
What does Britain’s exit from the European Union, or Brexit, mean for us here in the USA? There’s much speculation but one thing for sure is the effect on the mortgage rates. The Fed had previously increased rates with plans for a few more hikes in 2016. Partly based on speculation that Britain might leave the EU, they decided to…
