Tomorrow is a big day. The June jobs report will be released at 8:30 am. Economists are saying that we need at least 150,000 new jobs to maintain our unemployment rate of 9.1%. Last month, the numbers were disappointing and led many to start thinking that we may be in a double dip recession.
What does this mean for interest rates? Over the past month, rates were down almost to their low levels of last year. The drop was due to many factors, including the Greek economic crisis (really!) and the belief that the ecomony has still not turned the corner. 30 year fixed conforming rates are still around 4.75% Even a strong jobs number tomorrow will unlikely send that rate much higher.
Bottom line. Don't go feeling like you have missed the boat! Rates are great.
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