Lunch & Learn: Are appraisals the next big opportunity in mortgage fulfillment?

This Lunch & Learn for mortgage lenders will explore the evolution of the appraisal process as well as opportunities for innovation.

Why brokerages and mortgage lenders are rushing into JVs

Joint ventures are suddenly stitched into the fabric of a handful of national brokerages. But the idea of the joint venture collides with the loose, informal networks that color the American housing economy.

How to simplify the appraisal process for everyone in today’s hot market

While the world might be slowly getting back to normal, the housing boom is far from over. Appraisers need to make sure they have the right tools to manage the high demand.

Robert Dietz on why the single-family rental market is growing

In this episode of HousingWire Daily, NAHB's Robert Dietz explains why the marketshare of single-family rentals is growing despite strong homebuyer demand. He also discusses the NAHB’s latest Housing Market index.

Politics & Money

U.S. unemployment rate falls to 50-year low of 3.5%

Economy adds 136,000 jobs in September, slowing from August's pace

The U.S. unemployment rate fell to a 50-year low of 3.5% in September as the economy added 136,000 jobs, slowing from August’s upwardly revised 168,000 gain, according to the Bureau of Labor Statistics

The number of unemployed persons fell to 5.8 million in September, down from 6 million in the prior month, according to the report.

Lawrence Yun, the chief economist of the National Association of Realtors, said that September’s employment growth is a silver lining for an economy that has shown signs of struggling. On Tuesday, a gauge of U.S. manufacturing activity showed the lowest reading in a decade.

“Job gains of 136,000 and the unemployment rate falling to 3.5% are comforting signs that economic momentum remains solid even in an environment of greater uncertainty,” Yun said. “But before getting too excited, we should be aware that jobs are not cut at the first sign of uncertainty. That is why employment conditions are often a lagging indicator in assessing the direction of the economy.”

Comparing demographic segments, the jobless rates showed little or no change during September, coming in for men at 3.2%, Hispanics at 3.9%, women at 3.1%, teenagers at 12.5%, Asians at 2.5% and blacks at 5.5%. The unemployment rate for the nation’s white population declined to 3.2%.

The average hourly earnings for all employees on private non-farm payrolls fell one cent to $28.09 in September. That was 2.9% higher than a year earlier.

The change in total non-farm payroll employment in July was revised upward to 166,000 jobs from 159,000. With the revisions to the prior two months, employment gains in June and July combined were 45,000 more than previously reported.

The majority of job gains in September can be attributed to an increase in jobs in professional and business services, transportation and warehousing, healthcare and government. However, employment declined or showed little change in other major industries, including construction, leisure and hospitality, financial activities, information, wholesale trade and manufacturing.

The average workweek for all employees on private non-farm payrolls remained unchanged at 34.4 hours in September.

Here are some of the areas that showed notable changes in August:

  • Employment in professional and business services increased 34,000 jobs
  • Employment in transportation and warehousing increased 16,000 jobs
  • Employment in healthcare increased 39,000 jobs
  • Employment in government increased 22,000 jobs

Most Popular Articles

Why brokerages and mortgage lenders are rushing into JVs

Joint ventures are suddenly stitched into the fabric of a handful of national brokerages. But the idea of the joint venture collides with the loose, informal networks that color the American housing economy. HW+ Premium Content

Oct 25, 2021 By and

Latest Articles

What does the future hold for appraisal tech?

HW+ Managing Editor Brena Nath had the opportunity to catch up with Global DMS President and CEO Vladimir Bien-Aime at MBA Annual to talk more about what’s next for the appraisal industry in terms of technology.

Oct 27, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please