Tough start to the new year for mortgage rates

It looks like a new year’s hangover is what’s in store for mortgage rates so far this year. The December jobs report came out today much stronger than expected which caused rates to spike. 256,000 jobs were created vs 160,000 that was expected. An interesting thing to note is that most of the jobs created […]

Mortgage rates giving us coal for Christmas

Raise your hand if you thought mortgage rates would go down after the Fed cut rates again for the third time this year? Sadly you would be wrong! That’s right everyone is in the Christmas spirit except for mortgage rates. So what gives? In his press conference on Wednesday Fed chairman Jerome Powell basically said […]

Job report shows a mixed bag

Job growth was slightly above estimates in November, as the jobs report showed that 227K new jobs were created. Revisions to previous data for September and October added 56K jobs to those months combined. However, the unemployment rate rose to 4.2% while the average duration of unemployment climbed to the highest since April 2022. Despite […]

Post election recap

With a contentious election behind us I think both sides can agree that at least we don’t have to get 20 text messages a day from political parties. Seriously I was contemplating getting a burner phone it was ridiculous! Not only was there an election this week the Fed also cut rates by .25%. This […]

October Job report underwhelms

The US economy added just 12,000 jobs in October, which was well below expectations. Plus, revisions to previous data for August and September cut 112K jobs from those months combined while the unemployment rate held steady at 4.1%. This report was the worst report we’ve seen since December of 2020. Any way you slice it […]