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Natalie's Lender News!

Jobs Data on Target

This week, investors were focused on Friday's monthly Employment report. A high degree of volatility preceded the report, but the net result of the large daily movements was just a small increase in mortgage rates for the week.

Against a consensus forecast of 165K, the economy added 175K jobs in May. There were slight downward revisions to the figures from prior months. The Unemployment Rate unexpectedly increased to 7.6% from 7.5%, but this was entirely due to additional people entering the labor force. As a reminder, the Unemployment Rate measures the percentage of people who want to work but are unable to find a job. If the number of jobs holds steady, and more people decide that they want to work, the Unemployment Rate goes up. In short, there were few surprises in this report.

Given the influence of labor market data on the Fed's bond buying program, the level of daily volatility both ahead of the Employment report and following its release was extremely high. Weaker than expected labor market indicators from ADP and Jobless Claims caused investors to position for a shortfall in the Employment report, pushing mortgage rates a little lower ahead of the data. When the results essentially matched the Wall Street consensus, mortgage rates gave back the improvement. The middle of the road labor market data provides little guidance for investors trying to determine when the Fed will begin to scale back its bond purchases. High levels of volatility are likely to continue ahead of the next Fed meeting on June 19.

Amy Bonis Home Loans | Sharing Knowledge and building trust

 Your clients can now get the down payment
 they need to purchase their next home!

The NC Home Advantage Mortgage offers competitive interest rates along with down payment assistance up to 3% of the loan amount at 0% interest.

 

The down payment does not need to be repaid unless the home is sold, refinanced or transferred. Better yet, the down payment is completely forgiven at year 15 and reduced by 20% a year in years 11 through 15.

 

ELIGIBILITY REQUIREMENTS:

  • Client is buying a new or existing home in North Carolina
  • The home is principal residence and is occupied within 60 days of closing
  • Annual income does not exceed $85,000. This is not household income, ONLY income of the applicant
  • They can own another property
  • A pre-approval is required

 

Call today for more information or to set up an appointment and learn more about this great program that will boost the confidence of your buyers.

 The Amy Bonis MortgageTeam 

VIP cell  (919) 414- 4430
amy@amybonis.com
www.amybonis.com

900 Ridgefield Drive, Suite 90, Raleigh, NC 27609
www.amybonis.com


       
       

Lewis Realty



natalie@natalie-lewisrealty.com

600 N. Elm, Suite 1 Lumberton, North Carolina 28358
Office 910-738-5477 - Mobile 910-608-7377

20 Years of Real Estate Experience
Licensed in North and South Carolina
 

 
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