Weak May Jobs Growth Keeps Mortgage Rates Insanely Low
Low consumer price inflation helps consumers by supporting purchasing power, but it also has another key impact on the housing market; it helps to keep mortgage rates low. And mortgage rates are indeed low. In our Primary Mortgage Market Survey, U.S. weekly average 30-year fixed mortgage rates peaked at 4.3 percent in March, but then trended.
Just how little impact these lower mortgage rates have had, is apparent in. According to the NAR's report all-cash sales as a percent of total. So this points at weak demand from cash buyers, as reported by the NAR's Realtors.. but in the interim music may keep playing and fat cats will keep dancing.
Bad jobs mean lower rates. How long will it last for homebuyers and refinancers?
Gold rallied on the prospect of low rates and a weak U.S. dollar DXY, -0.60% , bond yields fell across the board, and now it seems over but for the Fed’s inevitable-but-always-cryptic press.
Tesla posted its worst day in 10 months on Thursday following earnings, and two experts say there may be more pain ahead. mortgage interest rates held steady last. the pace of job growth is slowing.
What Do Strong Job Growth and Weak Wage Growth Mean for Our Mortgage Rates?. the latest employment reports confirm that both the U.S. and Canadian economies are creating more jobs than they need to keep pace with the natural growth of their working-age populations.. and at rates as low as.
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Weak May Jobs Growth Keeps Mortgage Rates Insanely Low – That’s not a typo, as the freddie mac rate chart above shows. 30-year fixed rates are insanely low at 3.82%. This freddie mac rate data hits each Thursday and looks back one week, so these rates.
As such, when Operation Twist came to an end, and with the economy still not fully healed, the Fed began the so-called QE3 program, where they were again directly purchasing both Treasury and Mortgage Bonds to keep rates low and plenty of mortgage money available.
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Hiring was weak in May as employers added 75,000 jobs, bolstering the. The unemployment rate was unchanged at a 50-year low of 3.6%, the Labor. That helps keep inflation subdued and the Fed from raising rates.