December Jobs Report Amazing for Homebuyers and Mortgage Refinancing

admin's picture

However, this does come with some bad news…

85,000 Jobs Were Lost in December

This number is much, much worse than expected. The November report was revised to +4,000 jobs created vs. the original print of -11,000 jobs lost. The Unemployment rate was unchanged at 10%. For the unemployed this is obviously very bad news.
This mornings Job Report tells us the the Economy has not recovered and Wall Street should be in a state of flux for the next few months. We could be in for a bumpy ride.

Now for the Good News

Potential Homebuyers are thrilled as are clients thinking about Refinancing in the near future. Mortgage Interest Rates have jumped up the past 2/3 weeks with Conforming and FHA Mortgage Rates increasing as much as .75% They really have gone up pretty quickly.
November to December 2009

  • Conforming 30 year fixed at 4.875% on November 30th, the same Mortgage Interest Rate at 5.375% for a qualified borrower on December 28th
  • FHA 30 year fixed at 5.25% on November 3oth, the same Mortgage Interest Rate at 5.75% for a qualified borrower at on December 28th

Mortgage Interest Rates have gotten better by an .125 today and the possibility for more is very realistic

Freddie Mac SSL Certificate Fannie Mae Site Lock Equal Housing Lender
Americash Facebook Americash Google Plus Americash Twitter Americash Linked In Americash Yelp Americash RSS Feed Americash Instagram