Weak May Jobs Growth Keeps Mortgage Rates Insanely Low

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Employment will just keep pace with growth in. To be sure, it may take a few months of weak employment data to bring the RBA off the sidelines. Some breathing space may also emerge if major banks.

The first Friday of every month, the government estimates how many jobs were created or eliminated the previous month. May was pretty bad, but paradoxically, bad jobs growth will help keep rates in the high 3s, at least for the short term. That’s not a typo, as the Freddie mac rate chart above shows. 30-year fixed rates are insanely low at 3.82%.

After absorbing the disappointing report of the economy adding only 38,000 jobs, lenders were already lowering their mortgage rates this morning.

As such, when Operation Twist came to an end, and with the economy still not fully healed, the Fed began the so-called QE3 program, where they were again directly purchasing both Treasury and Mortgage Bonds to keep rates low and plenty of mortgage money available.

Weak May Job Creation Should Keep Rates Low for Now. with consumer confidence and job growth drives household formation.. weak job report likely mean that mortgage rates will remain about.

Mortgage rates didn’t move much today, which keeps them right in line with last week’s. rates), and the possibility that fiscal stimulus results in higher growth/inflation. While we may see.

Gold rallied on the prospect of low rates and a weak U.S. dollar DXY, +0.08% , bond yields fell across the board, and now it seems over but for the Fed’s inevitable-but-always-cryptic press.

"Mortgage rates fell slightly after an unexpectedly weak july jobs report, but are still above where they stood a month ago," said Aaron Terrazas, senior economist at Zillow.

That concern was enough to push mortgage rates down a bit. "Mortgage rates fell slightly after an unexpectedly weak July jobs report, but are still above where they stood a month ago," said.

Weak May Jobs Growth Keeps Mortgage Rates Insanely Low – How long? It’s never long when rates are this low. So if you’re looking to refinance, you need to get on it, as always with. Try our easy-to-use refinance calculator and see if you could save by refinancing. Estimate your new monthly mortgage payment, savings and breakeven point.