Instant Reaction: Jobs, June 7, 2024

Job additions are continuing at a healthy clip. A net of 272,000 payroll jobs were added to the economy in May, which is an acceleration from recent months. However, unemployment ticked higher, to 4.0%, due to a different measurement showing a net 408,000 jobs having disappeared when based on a hous

US Pending Home Sales Gauge Slumps in April to Four-Year Low –Bloomberg News

Bloomberg News A gauge of pending U.S. existing-home sales tumbled to a four-year low in April as higher mortgage rates cast a pall on the spring selling season. An index of contract signings from the National Association of REALTORS® dropped 7.7% to 72.3, the lowest reading since the early months o

Instant Reaction: Mortgage Rates, June 6, 2024

Facts: The 30-year fixed mortgage rate from Freddie Mac eased slightly to 6.99% over the last week from 7.03%. At 6.99%, with 20% down, a mortgage payment on the median-priced existing home of $400,000 is $2,127. In the most expensive MSA of San Jose-Sunnyvale-Santa Clara, CA (median price of $1,840