Mortgage Rates Excellent in Flagstaff

Grim jobs data improved rates today.  Despite estimates of 70,000 new jobs, the Jobs Report for December showed only a scant 18,000 new jobs created.  Private-sector job growth actually fell by 13,000 which is the largest private sector drop in more than four years.  Additionally, the unemployment rate jumped significantly to 5.0% from November's level of 4.7%.  This is the highest jump since 2001.  The news confirms fears that fallout from the housing slump and credit crunch is spreading throughout the economy making bonds, treasuries and mortgages a more appealing bet for skeptical investors.  This morning's numbers are truly a shocker, not just slightly lower.  The Fed historically eases when unemployment starts to rise. 

I recomment floating into Monday and see if we continue to see improvement in the interest rates.  Get with your Mortgage Consultant today to set up to take advantage of the low home loan rates.