More people sought U.S. unemployment aid last week, but the average for the past month fell to the lowest level in 15 years. A sign that few employers are cutting jobs. The latest unemployment figures indicate that six years after the Great Recession forced 8.5 million layoffs, Americans are enjoying solid job security. Economists note that when adjusted for population growth, the current level of applications is likely at all-time lows.
U.S. productivity rose at a moderate pace in the April-June quarter as growth picked up and hiring remained steady according to a report by the Labor department. Plus, auto plants clothing makers, and plastics factories drove a sharp rebound in U.S. manufacturing in July as well, according to the Federal Reserve The gains here suggested the manufacturers are adjusting to the obstacles of a stronger dollar. So what’s next? I am going to make a guess that the Federal Reserve will bump up their short-term interest rates in September. But, remember, this is only my guess.
Average long-term U.S. mortgage rates edged up this past week after three straight weeks of declines. Freddie Mac said the average rate on a 30-year fixed-rate mortgage rose to 3.94 percent from 3.91 percent the week before. The 15-year fixed-rate mortgage increased to 3.17 percent from 3.13 percent. Still, rates are at very attractive low levels in my opinion. If you or someone you know is interested in buying a home, now would definitely be a wonderful time do so.
The most important thing to do first is get pre-qualified for as mortgage. Then find a local Realtor who knows the area you are looking at buying a home. The face-to-face consultation a Realtor can give you beats faceless internet providers any day.
Quote of the week!
It’s not what happens to you that determines how far you go in life; it is how you handle what happens to you. – Zig Ziglar
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© 2015 SWBC. All rights reserved. This article is for informational purposes only and not intended for consumer distribution. Do not use it as financial and/or political advice. The opinions expressed in this article are not necessarily those of SWBC Mortgage, Century 21 The Hills Realty, or any of their affiliates. Information for this article from but, not limited to, the Wall Street Journal, S.A. Business Journal, NAMB, Real Estate on-line magazine, S.A. Express News and MBA News Link. For questions/comments contact Tony Stevenson at 1.800.460.6990 or email email@example.com. Loans are subject to credit and property approval. Other restrictions and conditions may apply. Programs and guidelines are subject to change without notice. Rates are subject to change daily. This email is an advertisement from SWBC Mortgage Corporation, NMLS #9741. Corporate office located at 9311 San Pedro Avenue, Suite 100, San Antonio, TX 78216. 8540-5937 NMLS#9741(www.nmlsconsumeraccess.org)