Have you ever wondered why a single report could have such a huge effect on mortgage interest rates? The non-farm payroll figure (a.k.a. NFP) represents the number of jobs added or lost in the economy over the last month, not including jobs relating to the farming industry. The farming industry is not included because its […]Read More Why does the Non-Farm Payroll report affect mortgage rates?
According to NAR’s most recent housing report, the answer is a firm “NO”. In fact, home sales in 2013 rose to the strongest level in 7 years. This taken directly from NAR’s RealtorMag: “Existing-home sales have risen nearly 20 percent since 2011, with job growth, record low mortgage interest rates, and a large pent-up demand […]Read More Are mortgage rates dampening home sales?