Bill Bodnar’s Post

Today’s job’s report showed hiring slowed in July. This suggests an even higher likelihood that the Fed will cut rates in September which will favorably impact mortgage rates. Rates have already started easing and have declined to their lowest level since early February according to Freddie Mac.   The attached chart from the WSJ shows the movement this morning of the 10-year Treasury yield. Mortgage rates are closely tied to the 10-year Treasury.

Job growth was well above estimates in September, as the BLS reported that 254K new jobs were created versus the 140K that were forecasted. Revisions to previous data for July and August also added 72K jobs from those months combined, while the unemployment rate fell slightly to 4.1% We will see how this affects mortgage rates in the next few days.

MARKET TRENDS: The U.S. added a solid 206,000 new jobs in June, a figure that slightly exceeded the forecast of 200,000. However, the latest employment report also revealed signs of labor market deterioration, potentially influencing the Federal Reserve to consider cutting interest rates soon.  Additionally, the government revised down the job creation numbers for May and April by 111,000. Of the new hires in June, one-third were in the government sector, while private-sector employment saw a softer increase of 136,000 jobs. At American Pacific Mortgage, we continuously monitor market trends so that we can keep you informed as our company develops the best mortgage programs for our communities. #USJobsReport #LaborMarket #FederalReserve #InterestRates #EconomicIndicators 

📊 Last week's Bureau of Labor Statistics Jobs Report revealed some interesting dynamics in the job market! With the focus shifting toward the increased unemployment rate, mortgage rates ended the week lower. #JobMarket #Economy #MortgageRates #BLSReport #FinancialNews

Jobs data came in last Friday a big miss all around, which was supportive or Mortgage Interest Rates going down. Instead of the 175,000 jobs expected to be created the number came in at 114,000 plus downward revisions to May and June. Which pushed unemployment from 4.1% to 4.3%, the highest level since 2021. Global markets have been reacting to last week's jobs report and today's ISM Services report; even calling for the Fed to call an emergency meeting. As we said before, it appears we are at a Buyer's Inflection point while mortgage interest rates continue to improve however it won't be a straight line down. Drop your comments or questions below, or even better give us a call to discuss your unique position and how best to create generational wealth for you and your family!

It could be a very pivotal week for mortgage rates and it all has to do with JOBS. Tuesday: Job Openings and Labor Turnover Survey (JOLTS) Wednesday: National Employment Report (ADP) Thursday: Initial Jobless Claims (DOL) Friday: Employment Situation (BLS) Might set the tone for the recent rate rally and determine its staying power. Buckle up. #mortgagerates #loanofficer #mortgagebroker #realtor

🚨🚨VERY weak jobs report! 🚨🚨 Only 12,000 jobs added in October, and here’s where it gets even more interesting - the jobs reports for August and September were both revised down significantly, by a total of 112,000 jobs. August’s numbers dropped from 159,000 to 78,000, and September’s from 254,000 to 223,000! 📉 Now, while that doesn’t sound like a win for the economy, it could be exactly what we need to see relief in mortgage rates. With job growth slowing down, it’s likely we’re looking at a more favorable environment for rate cuts. All eyes are on the Fed’s next meeting on the 7th, and with numbers like these, another rate cut feels more secure than ever! 😁 This means you or your clients could benefit soon with lower mortgage rates, so stay tuned - now’s the time to keep your options open if you’re considering buying or refinancing! 😎 🏦 UMortgage 🏆 Top 1% Nationwide LO 🇺🇸 VA Loan Expert 📲 512-595-3839 ✉️ [email protected] ⚜️ NMLS #1857360 📍 Nationwide Lender

📉 October BLS Jobs Report - What It Means for the Mortgage Market 📉 Last week the October jobs report came in well below expectations, with only 12,000 jobs added. Plus, revisions for August and September cut an additional 112,000 jobs from what we thought were stronger months. Meanwhile, the unemployment rate held at 4.1%. This weak job growth and ongoing labor market revisions suggest economic softness that the Fed can’t ignore. With these numbers, it’s looking more likely that the Fed will proceed with a rate cut at their November 7 meeting. For borrowers, that could mean some relief on rates in the coming months, which is a welcome possibility in today’s high-rate environment. Keeping a close eye on data like this helps us navigate changing conditions, identify opportunities, and ultimately make smarter lending decisions for our clients.

American Security Mortgage Corp. Economic & Market Snapshot August 6, 2024 Mortgage market prices are worse by -0.250% from yesterday morning. • No major economic news today. • This week is very quiet data release wise – on Thursday morning the normal weekly Jobless Claims will be announced. • Friday’s weak jobs report has caused a rally in Treasury and mortgage prices, however much of the excitement created by the jobs announcement is already built into the market. • Although the employment data on Friday was worse than expectations, the overall economy is still performing well – it is too early top call a recession at this point. • The 10-Year Treasury is yielding 3.87%. #charlottelender #charlottemortgageexpert #charlottenc

The initial jobless claims report came in relatively unchanged as expected signaling the economy is resilient and still gainfully employing people. The bond market interprets this as inflationary which caused mortgage rates to increase. Rates will remain at this higher level for the remainder of the year and most likely into 2025 unless something catastrophic happens geopolitically. Transactions are still happening in this market, the goal is to find motivated sellers with equity and buyers with a reason to buy. What I'm experiencing is seller's willing to negotiate a fair price and or carry the financing are moving their properties. I sell multifamily! I buy too. #rates #commercialrealestate #inflation