Tag Archive for: jobs report

Beware of False Employment Reports! Their Impact Is Only Temporary

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Hot jobs reports can push rates way up, but they should not be trusted. The actual data surfaces sooner or later, and rates adjust back downward. Sometimes it takes a day or two, and sometimes, unfortunately, it can take a few weeks or even months. Soft jobs reports from the BLS should also not be trusted, even though the mortgage industry desperately wants to believe them because we desperately need lower rates…Read More

Dangerous Myth: “Market Is Soft So I Can Lowball”

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One of the biggest misconceptions our pre-approved buyers have is that the market is soft because of today’s higher rates. While it is a fact that today’s higher rates are keeping an enormous number of potential buyers on the sidelines, it is also a fact that inventory levels remain at record lows.Read More

Strong Jobs Report Pushes Rates DOWN? FHA Condo Spot Approvals

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Rates continue to bounce up and down today, but the jobs report clearly should not be taken too seriously, and it appears that the economy is still on very soft footing. Remember too that the jobs market is the last domino to fall when recessions hit.Read More