Warning: file_get_contents(http://www.rewebsitepro.com/shared/blogphotos/blogphotos.json): failed to open stream: HTTP request failed! HTTP/1.0 404 Not Found in /home/awp/public_html/1636/blog/index.php5 on line 16

Employment, Russia, and Mortgage Rates

On Friday, The US Department of Labor released employment data, showing that the unemployment rate fell from 6.7% to 6.3% for April, which is great news for the economy - see the chart below. Many people are celebrating the fact that employment figues are approaching pre-recession numbers.

After the release of the employment data, mortgage rates also fell back down to around 4.25% for 30-year fixed rates. But wait - was it really due to the unemployment data? Also around the same time, there was a request from Russia for an emergency UN meeting as a result of escalating issues in Ukraine, and we all know that geopolitical concerns between nations have quite a large effect on the economy.

Whether rates dropped because of the employment data or other factors, they are still extremely low, and it remains a great time to lock in a mortgage loan or get started looking for property. Please call right away if you or anyone you know is interested in buying or selling!

Noah Grassi, Realtor, ABR, e-Pro, CID

If you, or someone you know is interested in buying or selling property, please call right away!