The unemployment rate dropped to 6.7 percent in December as the US economy
added 74,000 jobs. That was well below economists’ estimates and was the
weakest job creation in almost three years. Meanwhile wage growth also came in
at 1.8 percent for all of 2013. The Bureau of Labor Statistics says that’s well
below the inflation rate.How will these numbers affect housing? It could mean that fewer people will be qualified to purchase a home, but those who do could expect to see mortgage rates drop. It could also prompt the Fed to slow down its cutbacks to the mortgage bond buy back program which would keep interest rates low for longer than expected.
We’ll learn more about the Fed's reaction to the numbers when they hold their January policy meeting on the 28th.
If you have questions regarding your ability to buy or sell a home, feel free to call me at 503-318-1918.
Picture from foreclosuredeals.com
No comments:
Post a Comment