Oh, by the way, the report is seasonally adjusted! The numbers aren't really the numbers.
Just this week we had the national purchasing managers report showing manufacturing expanding faster than had been anticipated. Regardless of that report the odds always favor manufacturing to lose jobs almost every month. How can that be? Different agency!
As I said mortgage rates really have nothing to do with the Government, but the Government has a large influence on mortgage rates. The employment report is just one of a dozen or so reports that all work in the same manner as the report on wholesale inflation:the producer price index,retail inflation:the consumer price index, retail sales report, consumer confidence, durable goods, housing starts, new home sales, etc.
When you find a rate you like for your mortgage whether it is a purchase, cash out transaction or a refinance and you start to wonder whether you should take it or wait, remember what you are up against in the real world.
Roger Schlesinger
Roger Schlesinger's Mortgage Minute is heard on hundreds of radio stations and daily on the Hugh Hewitt radio show and Michael Medved shows. Roger interacts with his hosts and explores the complicated financial markets in order to enlighten his listeners and direct them along their own unique road to financial freedom.
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