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Employment Report January 2015
Summary: The first labor market report issued on Friday revealed both good and bad news regarding the state of our economy. While the economy has added 257,000 jobs in January, the report didn’t have much positive info regarding mortgage rates. Average hourly earnings exceeded expectations by rising 2.2% in the last year. Though there was a slight increase in unemployment, the economy seems to be improving considering the increase in jobs and wages. Inflation is definitely something to keep an eye on regarding future mortgage rates; the two are helplessly linked together by potential investors. But, the fact is that the number of buyers with mortgages is steadily increasing. Make sure you work with certified mortgage professionals! Hopefully higher wages will mean more home buying which would lead to even more jobs and people being able to purchase a home of their own.
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