Thanks to Keegan Mortgage, a trusted lender for a number of Sage clients, for this mortgage update:
Interest Rate Cuts May Be Over
Mortgage rates rose Friday after data showed the economy added more jobs than expected last month, a sign of ongoing growth. Unexpected labor market strength could cause mortgage rates to increase as forecasts for growth in the third and fourth quarters will increase.
On Friday the Labor Department said the U.S. added 128,000 jobs last month, more than the 75,000 expected by economists surveyed by WSJ. The agency also revised data from August and September to reflect gains of 95,000 more jobs than had previously been estimated.
Some investors said the data supported expectations that the Federal Reserve would pause cutting interest rates. Fed officials lowered interest rates Wednesday for the third time this year and signaled they think economic growth is strong enough for them to refrain from further moves. Federal-funds futures, which investors use to bet on the path of central bank policy, show the odds of a rate cut by the end of January are less than 40%, compared with 48% Thursday, according to WSJ.
With more companies figuring out how to efficiently and effectively enable their employees to work remotely (and for longer than most of us initially expected), homeowners throughout the country are re-evaluating their needs. Do I still need to live close to my company’s office building? Do I need a larger home with more office space? Would making a move to the suburbs make more sense for my family? All of these questions are on the table for many Americans as we ride the wave of the current health crisis and consider evolving home ownership needs.Read More
In today’s fast-paced world where answers are just a Google search away, there are some who may question the benefits of hiring a real estate professional when selling a house. The reality is, the addition of more information can lead to more confusion. A real estate agent can be your essential guide, but truth be told, not all agents are created equal. Finding the right agent for you and your family should be your top priority when you’re ready to sell your houseRead More
A recent survey by Lending Tree tapped into behaviors of over 1,000 prospective buyers. The results indicated 53% of all homebuyers are more likely to buy a home in the next year, even amid the current health crisis. The survey further revealed why, naming several reasons buyers are more likely to move this year.Read More