{"id":9639,"date":"2009-09-04T10:41:00","date_gmt":"2009-09-04T17:41:00","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=9639"},"modified":"2009-09-04T07:58:14","modified_gmt":"2009-09-04T14:58:14","slug":"jobs-report-did-i-call-it-wrong","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9639\/jobs-report-did-i-call-it-wrong\/","title":{"rendered":"Jobs Report – did I call it wrong?"},"content":{"rendered":"

Okay, so far this morning, the market has reacted in a very volatile but not significantly changed manner to the jobs report.   Essentially the jobs report came in pretty much where the market expected.   <\/p>\n

So, did I call it wrong by recommending a shorter term lock and a long term float guideline yesterday?   I don’t think so for a couple of reasons:<\/p>\n

    \n
  1. We’ve passed the major economic hurdle for the next few weeks without any news that is going to significantly lower rates.   Between that and the fact that the new Reg Z rules essentially require locking in your rate at least 1 1\/2 weeks before closing, it makes sense, if you are closing soon, to grab a rate and be done with it.<\/li>\n
  2. One of the “big guys” at PIMCO was on CNBC this morning<\/a> talking about how this is a “sugar high” rally that is based on inventory and cost control and stimulus funding (isn’t that what stimulus is supposed to do?) but that it won’t last.    When reality hits, the stock market will adjust and the adjustment won’t be pretty.    That has two potential options:  1) It would force money into the bond market driving down rates, or 2) It could cause money to jump to cash (remember last fall?) and everything would be really ugly.   So I expect there is still some lower rate potential in the next 60 to 90 days.<\/li>\n<\/ol>\n

    Have a good weekend!<\/p>\n

    Thanks!<\/p>\n

    Tom Vanderwell<\/p>\n

    Mortgage Rates<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    Okay, so far this morning, the market has reacted in a very volatile but not significantly changed manner to the jobs report.   Essentially the jobs report came in pretty much where the market expected.   So, did I call it wrong by recommending a shorter term lock and a long term float guideline yesterday?   I don’t […]<\/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":[62,29,26],"tags":[264,178],"class_list":{"0":"post-9639","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-dirty-laundry","7":"category-group-therapy","8":"category-lending","9":"tag-jobs-report","10":"tag-mortgage-rates","12":"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":9639,"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":9639,"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":9504,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9504\/the-fed-translated-and-why-it-isnt-good-for-interest-rates\/","url_meta":{"origin":9639,"position":2},"title":"The Fed Translated – and why it isn’t good for interest rates…..","author":"Tom Vanderwell","date":"August 13, 2009","format":false,"excerpt":"My apologies for taking almost 24 hours after the Fed to get this up.\u00a0\u00a0 As I\u2019ve done in the past, I want to go through what the Fed said yesterday and give some insights into what I think it means for the housing and mortgage markets.\u00a0\u00a0 You can find the\u2026","rel":"","context":"In "Dirty Laundry"","block_context":{"text":"Dirty Laundry","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/dirty-laundry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4219,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4219\/mortgage-market-week-in-review-jobs\/","url_meta":{"origin":9639,"position":3},"title":"Mortgage Market Week in Review – Jobs….","author":"Tom Vanderwell","date":"September 5, 2008","format":false,"excerpt":"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\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":4792,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4792\/mortgage-market-week-in-review-11\/","url_meta":{"origin":9639,"position":4},"title":"Mortgage Market Week in Review","author":"Tom Vanderwell","date":"October 3, 2008","format":false,"excerpt":"Well, here we are on Friday again. Are you getting motion sickness from all of the news and rumors that are flying back and forth? Wow has it been another week to forget, hasn\u2019t it? Here are the topics we\u2019re going to talk about today: The Bailout\/Rescue Plan, some very\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":2597,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2597\/avoid-the-two-sins-frustrated-writers-with-a-sales-license-commit\/","url_meta":{"origin":9639,"position":5},"title":"The Two Sins Writers Commit That Business Bloggers Can’t Afford","author":"Brian Brady","date":"February 18, 2008","format":false,"excerpt":"Here are two tips to help you avoid failure in real estate\/mortgage weblogging: 1- Don't commit the first sin; being boring. 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