CALL INFO LINE: 801-859-6555
 Welcome to the FreeUtahHomeSearch.com Blog

2014-12-05 14:38:21
Borrowers Beware:Fed to Raise Rates Sooner Than La

Borrowers Beware: Robust Jobs Report May Push Fed to Raise Rates Sooner Than Later

Borrowers Beware: Robust Jobs Report May Push Fed to Raise Rates Sooner Than LaterThe jobs report for November flew past projections, with the largest number of jobs gained in nearly three years and hourly wages seeing a pick up. But the positive in the employment outlook could signal a negative for borrowers: higher interest rates.

The Federal Reserve could be closer to raising interest rates, with some economists predicting a move in the first half of 2015 if the parameters set by Fed policymakers are in place. A robust employment picture is the biggest factor.

For now, homebuyers are enjoying the lowest mortgage rates since May 2013. This week, Freddie Mac said the 30-year fixed rate had fallen to 3.89 percent, its lowest level of the year.

The Labor Department said on Friday that nonfarm payrolls surged by 321,000 last month, the most since January 2012, The unemployment rate held steady at a six-year low of 5.8 percent.

 

“I think it will put pressure on the Fed to raise rates in the first half of next year by June, perhaps even March,” Craig Dismuke, chief economist at Vining Sparks in Memphis, told Reuters.

November was the 10th straight month with job growth surpassing 200,000, the longest stretch since 1994. The strong jobs market is an indication the the U.S. recovery is weathering slowdowns in China and Europe, and a recession in Japan.

Average hourly earnings for all employees on private nonfarm payrolls rose by 9 cents to $24.66 in November. Over the year, average hourly earnings have risen by 2.1 percent, the Labor Department said.


Read more at http://ecreditdaily.com/2014/12/borrowers-beware-robust-jobs-report-may-push-fed-to-raise-rates-sooner-than-later/#Pmiu8MYDxolz2tzY.99

 
Blog Archive
2017-04-16 09:49:56
Population Growth Shifting Out of SL To UT County

2017-04-16 09:49:01
State’s economy fueling population growth

2017-03-10 16:03:59
CNBC ranks Utah No. 1 state for business

2017-03-08 10:24:12
Toughest & Easiest States for 1st Time Home Buyers

2017-01-04 10:39:50
Housing Market 2017: The Positives & Negatives

2016-06-14 10:31:17
Salt Lake Monthly Housing Report

2016-05-20 15:42:35
Who Pays the Highest Property Taxes?

2016-03-31 15:49:40
Cities to Watch: 2016's Fastest-Growing Places

2016-03-29 13:19:08
Salt Lake Quarterly Housing Report

2016-01-28 08:37:27
Park City 2015 Year-end Statistics Press Release

2016-01-18 10:50:31
5 Things to Never Say When Selling a Home

2016-01-11 11:46:49
The ‘Missing Link’ in Housing

2015-12-23 12:08:43
5 Real Estate Trends That Will Dominate 2016

2015-12-15 10:56:50
How Will Higher Rates Affect Housing?

2015-12-04 10:39:02
Big Expectations for Housing in 2016

2015-12-01 10:07:30
6 ‘Tacky’ Home Décor Trends

2015-11-10 11:31:23
Home Buyers Don’t Need to Fear

2015-10-28 09:48:58
Home Prices Rising at Faster Pace Than Inflation

2015-10-20 15:23:54
Scammers Using New Chip-Based CCs as Fresh Phishin

2015-10-09 10:13:25
3 Home Inspection Deal-Breakers

2015-10-06 14:42:40
The Next Three Months: Best Time to Buy

2015-09-17 10:30:01
How High Will Mortgage Rates Actually Climb?

2015-09-11 14:14:05
Best Day of the Year to Buy a Home

2015-08-24 08:28:04
Home Resales at 8-Year High as Buyers Act Before M

2015-07-31 11:21:43
Utah Economy Newsletter June 2015 Now Available

Click here to see ALL articles.


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.