PrimeRates Market Talk: Jobs, The Fed And France
About that government shutdown… Jobs surprised on the upside in a big way this morning with the October number beating the estimates by a whopping 100,000.
Fannie Mae and Freddie Mac have been a crucial part of the mortgage market, remaining important even through the housing crisis.
Interest rates have dropped even more than previously, and it is about to break record lows.
The preliminary August index of consumer spending surprised economic forecasters by reaching its highest level since May.
The US Census Bureau has released their report for housing starts during the month of July.
The expansion of retail sales in July came after a quarter where household spending rose at the slowest rate in a year.
Retail sales provide one of the most important indicators for evaluating the strength of the U. S. economy.
For the week ending August 4th, jobless claims saw a minor decrease. The number of claims fell by 6,000 to a seasonally adjusted 361,000.
The economy added jobs in July, but the unemployment rate ticked up to 8.3 percent.
A major casualty of the foreclosure crisis, in which nearly 4.5 million Americans lost their homes, has been individuals close to retiring.
Investors believe mortgage refinancing has peaked.