Blog categorized as The Economy

New g-fees threaten low mortgage ratesBeginning as soon as next week, new, mandatory mortgage fees will push mortgage rates higher throughout Midlothian and nationwide. Fannie Mae and Freddie Mac are raising their respective "guarantee fees".

Guarantee fees are fees that mortgage-backed securities providers charge to lende...

07.09.12 03:45 PM - Comment(s)

Revisiting predictions for 2012When the calendar flips to a new year, analysts and economists like to make predictions for the year ahead.

So, today, with the year half-complete, it's an opportune time to check back to see how the experts' predictions are faring (so far).

If you'll remember, when 2011 closed, the housing market was...

13.07.12 03:45 PM - Comment(s)

Non-Farm Payrolls Since July 2010

Friday morning, the Bureau of Labor Statistics will release its Non-Farm Payrolls report. More commonly called "the jobs report", Non-Farm Payrolls is a monthly market-mover.

Depending on the strength -- or weakness -- of the data, mortgage rates will change. Perhaps sharply. Unfortuna...

05.07.12 03:45 PM - Comment(s)

Non-Farm Payrolls 2010-2012For the second straight year, the jobs market looks to be slowing into the summer.

Last Friday, in its monthly Non-Farm Payrolls report for May 2012, the Bureau of Labor Statistics reported 69,000 net new jobs created, plus a one-tick rise in the national Unemployment Rate to 8.2%.

2012 is shaping up ...

05.06.12 03:45 PM - Comment(s)

Non-Farm Payrolls 2000-2012

Been shopping for a mortgage rate? You may want to lock something down. Tomorrow morning, mortgage rates are expected to change. Unfortunately, we don't know in which direction they'll move. 

It's a risky time for Virginia home buyers to be without a locked mortgage rate.

The action begins at 8:3...

03.05.12 03:45 PM - Comment(s)

Unemployment Rate

Americans continue to get back to work.

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.

The March report marks the 18th stra...

10.04.12 03:45 PM - Comment(s)

Non-Farm Payrolls estimateIf you're out shopping for a home this week, or trying to lock a mortgage rate, with Friday comes home affordability risk. Consider locking your mortgage rate today.

The March Non-Farm Payrolls report is due for release Friday morning and mortgage rates are expected to move. Unfortunately for th...

05.04.12 03:45 PM - Comment(s)

Retail Sales 2010-2012The U.S. economy is expanding, fueled by a renewed consumer optimism and increased consumer spending.

As reported by the Census Bureau, Retail Sales in February, excluding cars and auto parts, rose 1 percent to $335 billion as 11 of 13 retail sectors showed improvement last month.

February market...

15.03.12 03:45 PM - Comment(s)

Net New Jobs Feb 2010-Feb 2012With home affordability at an all-time high, buoyed by the lowest mortgage rates ever, it's been a terrific time to buy or refinance a home using a mortgage.

The good times may not last, though, so today marks an ideal time to lock a mortgage rate. Friday brings risk. Here's why.

Since 2010, weak econ...

08.03.12 04:45 PM - Comment(s)
Consumer Confidence vs Retail Sales (2009-2012) The U.S. economy continues to show signs of a rebound. According to the Census Bureau, Retail Sales climbed to $329 billion last month on a seasonally-adjusted basis, excluding automobiles. January's data marks the 18th time in 19 months that Retail Sales rose, a run that's increased total sal...
15.02.12 04:45 PM - Comment(s)

Initial jobless claims 2008-2012

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. It spells good news for Henrico home sellers and may mean the end of bargain-basement prices for buyers.

Since peaking in mid-2009, the number of U.S. wor...

14.02.12 04:45 PM - Comment(s)
3-month rolling average NFP This week, once more, we find mortgage rates are on a downward trajectory. Conforming mortgage rates have returned to near all-time lows. After Friday morning's Non-Farm Payrolls report, however, those low rates may come to an end. It's a risky time for Virginia home buyers and would-be refinancers...
02.02.12 04:45 PM - Comment(s)
Retail Sales Growth (2008-2011) Consumer spending continues to rise nationwide, fueled by jobs growth and a rosier outlook for the U.S. economy. Unfortunately for mortgage rate shoppers,  it may also lead to higher mortgage rates later this week. Thursday morning, the Census Bureau will release its U.S. Retail Sales data for...
11.01.12 04:45 PM - Comment(s)

Payroll tax fees for new loansStarting soon, nearly all home buyers and refinancing households throughout Virginia and nationwide will pay higher mortgage loan fees. Congress has made it law.

13 months ago, as part of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, Congress enacted a one-year...

10.01.12 04:45 PM - Comment(s)

Unemployment RateIf 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.

The Non-Farm Payrolls report is more commonly called the "jobs report" and, lately, it'...

05.01.12 04:45 PM - Comment(s)

What's next for housing in 2012As the new year begins, there are no shortage of stories telling us what to expect in 2012. Housing finished 2011 with momentum and mortgage rates closed at the lowest rates of all time.

Some expect those trends to continue through the first quarter and beyond. Others expect a rapid reversal.

Who's ri...

04.01.12 04:45 PM - Comment(s)
Net new jobs created (2000 - 2011) Have you been floating a mortgage rate? It may be time to lock. At 8:30 AM ET Friday, the government's Bureau of Labor Statistics will release its  November Non-Farm Payrolls report. Better known as "the jobs report", the monthly Non-Farm Payrolls figures provide sector-by-secto...
01.12.11 04:45 PM - Comment(s)

Job growth since 2000

Within the next 48 hours, mortgage rates may get bouncy. The Federal Open Market Committee will adjourn from a 2-day meeting and October's Non-Farm Payrolls report is due for release.

Of the two market movers, it's the Non-Farm Payrolls report that may cause the most damage. Rate shoppers across...

02.11.11 03:45 PM - Comment(s)

Retail Sales 2008-2011

The American Consumer is alive and well, it seems.

Friday morning, the Census Bureau will release its Retail Sales figures for September. The report is expected to show an increase in gross receipts for the 15th straight month with analysts predicting a 0.6 percent increase from August.

The projected ...

13.10.11 04:07 PM - Comment(s)

Estimated NFP results September 2009

Mortgage rates are prepped to make big moves in the next 36 hours. Is it time for you to call in your rate lock?

Friday, at 8:30 AM ET, the Bureau of Labor Statistics will release the Non-Farm Payrolls report for September. Issued monthly, the "jobs report" offers sector-by-sector job ...

06.10.11 04:03 PM - Comment(s)

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