Ishakis Finance Report Mortgage Broker Brooklyn
Loan Officer Yael Ishakis’s take on mortgage and finance news.
Last week’s economic reports included readings on builder confidence, housing starts and building permits issued. Weekly readings on mortgage rates and new jobless claims were also released.
For Thursday and Friday, expect jobs data to dictate where mortgage rates are headed.
Mortgage rates are performing surprisingly well after Friday’s release of the October 2012 Non-Farm Payrolls report.
Mortgage markets worsened slightly last week as demand for mortgage-backed bonds slacked.
Conforming mortgage rates edged higher last week.
Last Friday, in its Non-Farm Payrolls report for the month of March, the Bureau of Labor Statistics announced 120,000 net new jobs created, plus combined revisions in the January and February reports of +4,000 jobs.
Economists believe the strength of the 2012 housing market will be closely tied to jobs. If they’re right, the housing market is ripe for a boost.
If you’re floating a mortgage rate, or have yet to lock one in, today may be a good day to call your loan officer. Friday morning, the government releases its Non-Farm Payrolls report at 8:30 AM ET.
Mortgage markets improved last week as optimism for a Greek Bailout program faded. Rates are back near their lowest levels of the year.
Mortgage markets improved last week on worries that Eurozone leaders would decline to send aid to Greece. These concerns overshadowed optimism for the U.S. economy, the result of several strong data points.