Can you believe the delayed, skewed jobs report? The business survey shows 204,000 new jobs…
Well, another weekly jobless claims report comes in tainted as California’s backlog of applications is making it impossible to get an accurate reading on the labor market. Jobless claims for the week ending October 19th were at 350,000 which was above expectations of 341,000.
New jobs during this quarter have averaged 143,000 which is below the 1st and 2nd quarters of this year. Even though claims have come down and less people have been laid off, there is no significant hiring going on.
Positive corporate earnings have boosted stocks today, but has slowed the rally that bonds had for the past few days. Mortgage backed securities have been mostly flat today, but there is the risk of unfavorable re-pricing.
Florida Mortgage Rates October 24, 2013:
- 30 Year Fixed Rate Mortgage – 3.75% (3.954% APR)
- 15 Year Fixed Rate Mortgage – 2.75% (3.106% APR)
Check back tomorrow to get the newest rate updates!