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Jesse Stroup

Mortgage and Real Estate Market updates

Thursday, December 3, 2015 - Article by: Jesse Stroup - Geneva Financial - Message

Planned jobs cuts by U.S. employers fell to the lowest level in more than a year in November as the labor markets continue to improve. The energy sector continues to be the worst sector due to falling oil prices. Staffing firm Challenger, Gray & Christmas reported that employers announced job cuts of 30,953 in November, nearly 40% fewer than October and the lowest level since September 2014. However, all was not rosy ... job cuts in 2015 have been the worst since 2009, which was at the height of the Great Recession.The service sector of the economy expanded at a slower pace than expected in November, although the sector has expanded for 70 consecutive months. The Institute of Supply Management's Service Index fell to 55.9 in November, down from the 59.1 recorded in October. Most respondents to the survey are still positive about business conditions, the report stated. Within the report it showed that the employment component fell, while other key components declined.Mortgage rates continue to hover near historically low levels in the latest week as weaker than expected economic data helped to push rates lower. Freddie Mac reported that the 30-year fixed conventional mortgage rate fell to 3.93% with 0.6 in points and fees, down from 3.95% last week. It was the third consecutive week of declines. The lowest rate seen in the past 30 years was 3.35% in November and December of 2012.Jesse Stroup California Mortgage Professional www.CaliforniaHomeLoanLender.comwww.JesseStroup.comPacific Funding GroupNMLS# 6229Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act. NMLS # 930622 | NMLS # 6229

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