Employment Rises—Housing and Mortgage Experts React

first_img Employment increased by 196,000 in March, according to the most recent U.S. Bureau of Labor Statistics Employment Situation Summary.Weighing in on the report, Doug Duncan, Chief Economist at Fannie Mae, said, “The March jobs report suggests that the labor market remains solid overall.”“We expect the Fed to remain patient given a solid labor market and little evidence of upside inflation risks,” Duncan continued. “Meanwhile, employment in the residential construction sector expanded following a decline in February. This should allow builders to continue expanding supply at a gradual pace though labor shortages across the industry remain a concern. This report is directly in alignment with our economic and housing outlook for the year.”March’s 196,000 jobs added is a jump from February’s 20,000, though unemployment remained relatively the same, at 3.8 percent. Additionally, construction showed little change, up by around 16,000, though construction has increased by 246,000 over the past 12 months.realtor.com Chief Economist Danielle Hale commented on the job growth, noting the increase in purchasing power for homebuyers.“March’s jobs report painted a much brighter picture than a month ago, as 196,000 jobs were added, compared to February’s bleak 20,000 jobs and both January and February early reports were revised higher–meaning there were more jobs added those months than we originally believed. Job growth is slower than the average month in 2018, but appropriate since unemployment is at long-time lows,” said Hale.Hale continued, “Unemployment continued to hover at a 19-year low, at 3.8 percent, just a touch higher than the 49-year low of 3.5 percent. The combination of earnings growth of 3.2 percent and low mortgage rates has boosted home buyers’ purchasing power in the face of rising home prices, but affordability remains a challenge, especially for entry-level buyers. Still, as buyers grapple with their budgets, job and earnings growth and lower mortgage rates suggest sufficient demand for sellers this spring.”Find the report here. April 5, 2019 900 Views Construction Employment Fannie Mae HOUSING mortgage Realtor.com 2019-04-05 Seth Welborn Employment Rises—Housing and Mortgage Experts Reactcenter_img in Daily Dose, Featured, News, Origination Sharelast_img read more

The 5 Takeaways from the Coyotes introduction of

first_img The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Six weeks into the 2012 NFL season, it appeared the Arizona Cardinals may have found their franchise quarterback in Kevin Kolb. In March of 2013, the search for that franchise signal caller continues.The Cardinals announced Friday they have cut the quarterback, whose time in the Valley ends after a disappointing two seasons.Reports circulated Friday that Kolb had rejected the Cardinals’ contract restructuring. Former Cardinals kicker Phil Dawson retires 0 Comments   Share   Derrick Hall satisfied with D-backs’ buying and sellingcenter_img By releasing Kolb, the Cardinals will save $7.5 million against the 2013 salary cap, which is set at $123 million.Acquired by the team from Philadelphia for cornerback Dominique Rodgers-Cromartie and a second round pick in August 2011, Kolb was expected to become the team’s solution at quarterback.Since entering Week 1 in relief of an injured John Skelton, Kolb had completed 59.6 percent of his passes and thrown for 1,169 yards. He tossed eight touchdown passes against just three interceptions and, perhaps most important, had led the Cardinals to a 4-1 record. Then Kolb suffered shoulder and rib injuries in a Week 6 loss to the Buffalo Bills, maladies he was unable to recover from. And now, the Kolb era in Arizona has come to an end.Instead, injuries and ineffectiveness plagued the signal caller over the course of his time in Arizona, and with a $2 million roster bonus along with a $9 million salary on the way this season, and after adding free agent quarterback Drew Stanton, the franchise decided it best to part ways.Kolb leaves Arizona having played in just 15 games for the Cardinals — including 14 starts. He threw for 3,124 yards with 17 touchdowns and 11 interceptions. Top Stories Grace expects Greinke trade to have emotional impactlast_img read more