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Mortgage rates could move higher beginning tomorrow morning. The jobs report is always an interest rate mover.

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Mortgage rates could move higher beginning tomorrow morning. The Bureau of Labor Statistics releases its February jobs report at 8:30 AM ET.

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There are some times when you just say “if that’s not enough to make mortgage rates come down, they’re not coming down.” This might be one of those times.

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This morning, at 8:30 AM ET, the Bureau of Labor Statistics released its Non-Farm Payrolls report for January 2011. Mortgage rates are rising in response.

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If you’re looking to dial in your mortgage rate predictions, tune your crystal ball to the jobs report, not the unemployment rate.

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For this month — and for the rest of 2011– employment data will figure big in mortgage markets and for home affordability. Today’s release is the first big splash.

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Mortgage rates are rising, up nearly 1 percent since mid-October. Tomorrow, rates could rise again.

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Mortgage rates are rising, up nearly 1 percent since mid-October. Tomorrow, rates could rise again.

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Mortgage rates have been falling since April, shedding more than 1 percentage point since the Refi Boom began. Today, that momentum could lose some steam.

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This is commonly referred to as the “the jobs report” and the data strongly influences stocks and bonds and therefore is highly influential with home affordability figures. Especially in today’s economic climate and we saw mortgage rates dip lower on Friday.

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