Jobs
Instant Reaction: Jobs, July 7, 2023
Jobs have been added continuously since the lifting of the lockdown, but the latest monthly net gain of 209,000 is the smallest in 2.5 years. www.nar.realtor – Research
Instant Reaction: Jobs, January 6, 2023
There were 223,000 net new jobs in December 2022, and the unemployment rate is at a historic low of 3.5%. Wage growth over the past 12 months was 4.6%. www.nar.realtor – Research
Instant Reaction: Jobs, October 7, 2022
Job gains continued in September 2022 with a solid 263,000 net new additions and the unemployment rate is tight at 3.5%. www.nar.realtor – Research
Instant Reaction: Jobs, March 4, 2022
The employment gap between current conditions and pre-COVID days is narrowing, with only 2.5 million more jobs needed to get there. www.nar.realtor – Research
Instant Reaction: Jobs, November 5, 2021
The job market continues to make progress in October with 531,000 net new jobs. Since coming out of lockdown 18 million jobs have been created, but total jobs are still 4 million below the level seen before the arrival of COVID-19. www.nar.realtor – Research
Forbearances Expiring; Remote Work Not Killing Cities; Rates Surge Higher Despite Weak Jobs Data
The number of mortgages in forbearance saw its l argest reduction in 12 months l ast week. Black Knight said 177,000 loans exited the program, many of them having reached the end of the 18 months of reduced or suspended payments allowed for those financially impacted by the COVID-19 pandemic. This is an 11 percent […]
Highest Rates in Months Despite Weak Jobs Report
It goes by many names: The Employment Situation, Nonfarm Payrolls (NFP), or simply “the jobs report.” No matter what you call it, the Labor Department’s massive collection of employment statistics is one of the most important events for the bond market every month. For a quick reminder as to why mortgage rates care about the […]
MBS RECAP: Highest Yields in Months. Could Jobs Report Make it Worse?
Posted To: MBS Commentary Highest Yields in Months. Could Jobs Report Make it Worse? After a somewhat hopeful bounce in yesterday's trading session, and a decent overnight session, Thursday ended up being a bad day. With the jobs report on deck tomorrow, could things get even worse? That's always a possibility, but it wouldn't necessarily […]
Forbearances Tumble; Mortgage Profits Break 2008’s Record; Locking/Floating After Jobs Report
The number of loans in forbearance declined sharply over the course of the past week. Black Knight said the number of homeowners exiting their plans jumped to the highest level in four weeks due to end-of-May expirations. There were also noticeable declines in the number of borrowers returning to the program as well as new […]
Instant Reaction: Jobs, June 4, 2021
The job market continues to make progress with 551,000 net new additions in May. Another 7 million jobs are still needed to get us back to pre-pandemic conditions. www.nar.realtor – Research