Patient Fed and Great Jobs-Mortgage Rate Update for the Week of January 28, 2019

Patient Fed and Great Jobs-Mortgage Rate Update for the Week of January 28, 2019. September 9, 2019 - "Mortgage Minute" - TWIM - Weekly Rate Update & "August Jobs Report"

Patient Fed and Great Jobs-Mortgage Rate Update for the Week of January 28, 2019 video duration 2 Minute(s) 33 Second(s), published by Larry Iest on 02 02 2019 - 05:01:15.

This was an interesting week in the financial markets
The government shut down has temporarily ended
We still do not know when the economic reports that A mortgage sales assistant is number 4 on the list of top posted job titles for financial advisers
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. https://growella.com/mortgage/ ▻ Today's mortgage and real estate news: (1) The Bureau of Labor Statistics reports a drop in the national unemployment rate to September 9, 2019 - "Mortgage Minute" - This Week In Mortgage - Weekly Rate Update & "August Jobs Report" #JumboLoans #Mortgage #OpenHouse .

This was an interesting week in the financial markets. The government shut down has temporarily ended. We still do not know when the economic reports that were delayed by the shutdown will be released.

The Federal Reserve held their meeting this week which always concludes with a statement and rate decision and going forward a press conference. The Federal Reserve was much more timid in their policy statement than expected. They used the word “patient” several times. The Fed also dropped the verbiage about additional rate hikes from their policy statement. The markets take was the Fed would pause their rate hikes until market conditions dictated otherwise. The other big takeaway was the Fed mentioned they were prepared to “adjust their balance sheet normalization policy”. In English, this means they could possibly start buying bonds and mortgages again. This new patient Fed caused the stock market and mortgage rates to improve.

Much of the excitement following the Federal Reserve meeting was diminished when the Employment report for January was released. The Employment Report was FANTASTIC showing 304,000 jobs created almost double what was expected. The Unemployment Rate increased slightly to 4%, which could have been affected by the government shutdown. The inflation component in the report, weekly earnings increased from 3.2% to 3.5%, a significant increase. This report spooked the markets as it was so much stronger than expected. While mortgage rates increased after the release of the jobs report, they were still lower than when the week began.