Weak Jobs Report Helps Interest Rates
The highly anticipated jobs report for August payrolls was released this morning. The jobs report came in much lower than expected – only 142,000 jobs were created which is a lot less than the 228,000 they were expecting.
Although this weak jobs report is bad news for the economy, it is relatively good news for interest rates over the near term. This news will actually help those homebuyers who are looking to purchase a home over the next month or two. It will also help current homeowners who are looking to refinance their existing mortgage.
Mortgage interest rates have recently dropped to a 14 month low and this news should help keep rates there for a little while.
If you need a mortgage in Colorado, Florida, Illinois, Indiana, Michigan, Minnesota, Tennessee or Wisconsin please call us directly at (708) 531-8388 or if you want to see how much you can be pre-approved for click here