This entry was posted on Friday, May 4th, 2007 at 8:39 am and is filed under Economy, Mortgage Rates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
Sluggish Job Growth Eases Inflation Worries: Sacramento Mortgage Rate Update
The 30 years conforming fixed rate loan ends this week unchanged at 6.16 with .5 points, according to Freddie Mac’s weekly survey.
BEHIND THE NUMBERS
The April jobs report showed the slowest job growth rate in two years, as predicted earlier by Wednesday’s ADP jobs report. The Wall Street Journal reports 88,000 new jobs, fewer than than the 110,000 consensus figures, along with a small rise in unemployment. This could well be the delayed reaction I mentioned in yesterday’s article. Coming on the heels of weak 1st quarter GDP growth, hopes for a Fed rate cut before the end of year were rekindled.