Jobs Report Misses. Will Mortgage Rates Drop ?

Holy Guacamole! Less than 4% ?      Here at homesinatlanta we keep a close eye on the jobs report.  More people getting jobs usually means more houses will sell.  Today’s job report was disappointing but like so many things in our complicated economy this might be good news or bad news.  Why?  Well a slower economy means the Fed may keep buying up mortgage backed securities which means mortgage rates may come back down. May, may, may!   Confused yet?  Don’t feel bad plenty of people are.  Our estimate is we’ll see rates drop slightly but not back to where they were in the Spring.  Get used to 4% plus, but this report may keep us out of the 5% range.  What is important to know is that rates are going to stay higher than their bottom this past year and that home prices appear to be increasing.  It’s why you need a  smart agent.  Is it the right time to buy or sell for you?  Then give us a call or log in to our web site at http://www.theintownagent.com           And if you’re a numbers nerd like me you may want to check out all the employment figures from this report on CNBC.

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