Mortgage

Payrolls grow by 204,000

Jobless rate rises to 7.3%

Payrolls in America grew more than forecast in October, showing that employers were optimistic the world’s biggest economy could overcome the government shutdown. Per Bloomberg:

The addition of 204,000 workers followed a revised 163,000 gain in September that was larger than initially estimated, Labor Department figures showed today in Washington. The median forecast of 91 economists surveyed by Bloomberg called for a 120,000 advance. The jobless rate rose to 7.3 percent from an almost five-year low.

“The economy isn’t as weak as people seem to think it is in the fourth quarter,” Joseph LaVorgna, chief U.S. economist at Deutsche Bank Securities Inc. in New York, said before the report. “The job market is in a phase of grinding improvement.”

Most Popular Articles

Mortgage rates drop on Fed intervention

The average U.S. rate for a 30-year fixed mortgage fell to 3.33% this week, according to Freddie Mac, as the Federal Reserve’s bond-buying program created demand for securities backed by home loans.

Apr 02, 2020 By

Latest Articles

AIME’s Anthony Casa on the mortgage industry’s most pressing topics

HousingWire CEO Clayton Collins sat down with Association of Independent Mortgage Experts Chairman Anthony Casa to discuss some of the most pressing issues pertaining to the housing industry as the coronavirus that causes COVID-19 continues to create uncertainty within the market. HW+ Premium Content

Apr 03, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please