The unemployment report was particularly surprising for April because of its strong report. The nation added just 88,000 jobs in March, while Friday's April report was 87.5% higher.
Chicago, IL (PRWEB) May 04, 2013
The unemployment report was particularly surprising for April because of its strong report. The nation added just 88,000 jobs in March, while Friday's April report was 87.5% higher. The job market is gaining momentum. With more individuals will earning income, more people will be able to apply for a mortgage. In addition, banks will lower credit standards as more lien holders are able to comfortably afford their mortgages again causing them to search for new sources of income in new mortgages. As for housing, as more individuals apply for mortgages demand for property listings will rise causing home values to increase. With recent data this week showing construction spending increased for residential housing in March, and unemployment falling, we are bound for a more active housing market.
Why To Apply For A Mortgage Now?
On December 12th, 2012 The Federal Reserve expressed their threshold for interest rates. They stated if inflation reaches 2.2% or if unemployment declines to 6.5% then it will raise rates. With the re-confirmed reality that unemployment is declining month over month, the The Federal Savings Bank is strongly encouraging all perspective lien holders to apply now and get locked in for a low fixed interest rate before rates rise. For more information on the housing market or to speak with a loan officer please visit: TheFederalSavingsBank.com