{"id":939,"date":"2013-07-09T21:46:21","date_gmt":"2013-07-09T21:46:21","guid":{"rendered":"http:\/\/riverbankfinance.com\/blog\/?p=939"},"modified":"2013-09-06T20:49:34","modified_gmt":"2013-09-06T20:49:34","slug":"stronger-than-expected-jobs-report-sends-mortgage-rates-higher","status":"publish","type":"post","link":"https:\/\/riverbankfinance.com\/blog\/stronger-than-expected-jobs-report-sends-mortgage-rates-higher\/","title":{"rendered":"Mortgage Rates Higher After Stronger Then Expected Jobs Report"},"content":{"rendered":"

\"Jobs<\/a>The all important Jobs report just recently came out and beat Wall Street\u2019s expectations by a large margin.\u00a0 There were 195,000 new jobs last month and also more positive revisions to the last two months of reports.\u00a0 This has caused the bond markets to react negatively which in turn has raised interest rates.\u00a0 Some experts predict this may be the final nail in the coffin and cause rates to jump up above 5% in the near future.<\/p>\n

2013 Jobs numbers and its overall impact to mortgage rates:<\/h1>\n

These strong job numbers which were just posted help keep in perspective just how far we have come since the great recession.\u00a0 During the lowest point in the recession we had lost a staggering 7,300,000 total jobs.\u00a0 This is a sobering number which takes a moment to set in.\u00a0 Thankfully, we have gained back 6,300,000 of those lost jobs.\u00a0 This is a positive step in the right direct and the stock markets have reacted positively to this better news.\u00a0 This will definitely help our retirement account but unfortunately it will not help mortgage rates.<\/p>\n

Typically, rates react negatively (get higher) to good news and react positively (go lower) with bad financial news.\u00a0 So when the markets start to pick up steam like it now appears to be doing rates start to climb.\u00a0 In other words, if you have been considering refining your home or buying but been holding out for better rates you may want to get off the fence before it is too late.\u00a0 Some experts believe that rates should be even higher then what they currently are now.<\/p>\n

The Federal Government is helping keep the rates artificially low to stimulate the economy.\u00a0 The Fed is going to continue to keep them low until they feel the economy gets better.\u00a0 These better job report numbers may be just the indication the Fed. needs to to take away this bond buying stimulus which ultimately will move rates up much quick then normal.<\/p>\n\n

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