One important financial which really helps shape the interest rate mortgage market is the jobs report. This is a report that comes out once per month and is considered by most to be the main economic report for the economy. Since 2010 the general trend in this job report has been a slow and steady increase to the number of jobs created. Some are even stating the this job report may foreshadow a stronger ending in 2013 which will set us for great 2014… But lets not get ahead of ourselves shall we.
5.1 Million Jobs Added Since 2010
This report comes out the first Friday of each month and eagerly anticipated. On Friday the rport is given before most financial markets open at 8:30. The report is broken down into different sectors. The Non-Farm payrolls are what experts take in the most consideration. Most recently this job report has been getting better and better which some feel could start to be the end of great mortgage rates.
Since the bottom of the Great Recession the U.S. has added 5.1 million jobs. This is a staggering number to think about but just remember that we lost 7.4 million jobs during the great Recession. We are starting to get back to where we were before this great meltdown but still have a ways to go. At this rate it could take us years to just gain bask the number of jobs that we lost and if our goal is to get better then we were before then we still have a ways to go.
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The Job’s report always shake up the Mortgage Rates
If you are in the middle of a mortgage loan you mnay want to condier locking in your interest rate before this report comes out. This economic report really can make interest rates spike one or the other. If you feel like you want to gamble you could really benefit for these numbers if they are lower then expected. One thing is for certain you need to call the experst at Riverbank Finance today to discuss you rate lock options. Call us at 80o-555-2098 today!