{"id":4219,"date":"2008-09-05T13:35:23","date_gmt":"2008-09-05T20:35:23","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=4219"},"modified":"2008-09-05T15:13:30","modified_gmt":"2008-09-05T22:13:30","slug":"mortgage-market-week-in-review-jobs","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4219\/mortgage-market-week-in-review-jobs\/","title":{"rendered":"Mortgage Market Week in Review – Jobs…."},"content":{"rendered":"
\n

Well, it\u2019s Friday again, everyone is back in school, my 18 year old is off to college (only 35 minutes away but still) and the mortgage world keeps moving on.\u00a0\u00a0 So what\u2019s this week look like?\u00a0\u00a0 Well, frankly there were a couple of other things going on, but the main thing that happened was jobs this week.\u00a0\u00a0 Which jobs?\u00a0\u00a0 The ones that were getting cut and the ones that John and Sarah\u00a0are running for (yes I am going to talk about politics!)<\/span><\/span><\/span><\/p>\n

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<\/span><\/span><\/div>\n

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First, the jobs that are getting cut.\u00a0\u00a0 The August employment numbers came out and they were frankly quite dismal.\u00a0\u00a0 We lost 84,000 jobs in August and both June and July\u2019s numbers were revised downward.\u00a0\u00a0 In addition to that, the unemployment rate jumped upward to 6.1%, the highest level in, I believe, 5 years.\u00a0\u00a0\u00a0 The numbers were not only bad, they were worse than the markets had expected and that has correspondingly renewed the use of the \u201cR\u201d word (not Republican, recession) and has reduced the fear of inflation.\u00a0\u00a0\u00a0 The silver lining in that dark cloud is that mortgage rates have benefited this week.\u00a0\u00a0 The dark side is that there are a lot more people out of work.<\/span><\/span><\/span><\/div>\n

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<\/span><\/span><\/div>\n

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So what does that mean?\u00a0 Let\u2019s focus on the \u201cobvious\u201d first:<\/span><\/span><\/span><\/div>\n

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1. It means that there are very few if any employers who are expanding right now.\u00a0\u00a0 I\u2019ve heard discussions that in order to handle the growth in our society, we need to create an additional 100,000 plus jobs every month.\u00a0\u00a0 We aren\u2019t even close to that number.\u00a0\u00a0 So that\u2019s not a good sign for the overall economic picture.<\/span><\/span><\/span><\/div>\n

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2. It\u2019s probably also a byproduct of the fact that the credit crunch is moving from just being a subprime mortgage problem to being a mortgage problem to being an overall credit problem.\u00a0\u00a0 Why is that so?\u00a0\u00a0 If you were a business owner who was looking to expand but can\u2019t borrow the money needed to expand, it is going to be harder to hire more people.\u00a0 It\u2019s a vicious cycle, know what I mean?<\/span><\/span><\/span><\/div>\n

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3. If more people are afraid of losing their jobs, then Read more<\/a><\/span><\/span><\/span><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Well, it\u2019s Friday again, everyone is back in school, my 18 year old is off to college (only 35 minutes away but still) and the mortgage world keeps moving on.\u00a0\u00a0 So what\u2019s this week look like?\u00a0\u00a0 Well, frankly there were a couple of other things going on, but the main thing that happened was jobs […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,5],"tags":[],"class_list":{"0":"post-4219","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-lending","7":"category-real-estate","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":9918,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9918\/the-jobs-report-whats-it-going-to-mean-for-mortgage-rates\/","url_meta":{"origin":4219,"position":0},"title":"The Jobs Report – what’s it going to mean for mortgage rates?","author":"Tom Vanderwell","date":"October 1, 2009","format":false,"excerpt":"Okay, it\u2019s hard to believe but tomorrow morning is the first Friday of the month again.\u00a0\u00a0\u00a0 Where has the year gone?\u00a0\u00a0 In some ways it has flown by and in other ways it seems like it\u2019s been about two or three years.\u00a0\u00a0 Know what I mean? Any way, tomorrow morning\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5465,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5465\/why-i-think-the-jobs-report-wont-be-helpful-for-mortgage-rates\/","url_meta":{"origin":4219,"position":1},"title":"Why I think the Jobs report won’t be helpful for mortgage rates….","author":"Tom Vanderwell","date":"November 7, 2008","format":false,"excerpt":"Okay, let's face the fact that the jobs reports and the reports from Ford and General Motors that came out today were ugly.\u00a0\u00a0 Not just ugly, downright nasty. In normal economic times, that sort of bad economic news would send people fleeing stocks and going into the bond market.\u00a0\u00a0 That\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9628,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9628\/the-jobs-report-what-does-it-mean-for-mortgage-rates\/","url_meta":{"origin":4219,"position":2},"title":"The Jobs Report – What does it mean for mortgage rates?","author":"Tom Vanderwell","date":"September 3, 2009","format":false,"excerpt":"Given all of the discussion here lately about using video, I thought I'd post something a bit more \"ordinary\" than Mr. Potato Head but hopefully useful as well.\u00a0\u00a0\u00a0\u00a0 The video below is some of my thoughts on what the jobs report that comes out tomorrow might mean for the mortgage\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7965,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7965\/mortgage-market-week-in-review-15\/","url_meta":{"origin":4219,"position":3},"title":"Mortgage Market Week in Review….","author":"Tom Vanderwell","date":"April 18, 2009","format":false,"excerpt":"Well it's hard to believe, but another week has flown by.\u00a0\u00a0 Rather than spending a Saturday working on mortgage stuff and writing about mortgage stuff, I spent the day taking my 8 year old to a birthday party, cleaning out the garage and getting the pool ready for the season.\u00a0\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":560,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/560\/arizona-ranks-fourth-for-new-jobs-totals\/","url_meta":{"origin":4219,"position":4},"title":"Arizona ranks fourth for new jobs totals . . .","author":"Greg Swann","date":"October 20, 2006","format":false,"excerpt":"From The Business Journal of Phoenix:Arizona added 119,200 jobs between over the last 12 months and 5,500 new jobs between August and September of this year, according to new numbers from the U.S. Bureau of Labor Statistics. Those year-over-year jobs numbers rank fourth in the U.S. behind only Florida, Texas\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5071,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5071\/mortgage-market-week-in-review-12\/","url_meta":{"origin":4219,"position":5},"title":"Mortgage Market Week in Review","author":"Tom Vanderwell","date":"October 17, 2008","format":false,"excerpt":"Well, here we are and it\u2019s time for another Mortgage Market Week in Review.\u00a0\u00a0 This week, we\u2019re going to talk about consumer spending, consumer confidence, the new normal, where\u2019s the bottom?\u00a0and why interest rates have had a 1 percent up and half percent down swing since last week Wednesday. Consumer\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/4219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=4219"}],"version-history":[{"count":3,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/4219\/revisions"}],"predecessor-version":[{"id":4222,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/4219\/revisions\/4222"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=4219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=4219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=4219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}