Rise in Non-Farm Payroll

September 10, 2018

Last Week in Review: Non-farm payrolls rose in August. So did home prices in July.

5C56CC5D-E0DE-473F-858F-CD4295DAAA4F

U.S. employers hired 201,000 new workers in August, above the 187,000 expected, the Bureau of Labor Statistics reported. However, June and July were revised lower by a total of 50,000 jobs. Job gains have averaged 185,000 per month over the last 3 months. The Unemployment Rate remained at 3.9 percent.
Perhaps the biggest news within the report was the 0.4 percent gain in wages from July to August, while year-over-year wages increased by 2.9 percent, the highest annual increase in nine years. Overall, this was a solid report as the labor sector is at or near what's considered full employment.
Home prices rose at a solid pace in July. Research firm CoreLogic reported that home prices, including distressed sales, were up 6.2 percent from July 2017 to July 2018 and 0.3 percent from June to July of this year. Frank Nothaft, CoreLogic's chief economist, noted that gains are beginning to moderate due in part to higher home loan rates and home prices. CoreLogic forecasts that home prices will rise 5.1 percent from July 2018 to July 2019.
Mortgage Bonds fell in the latest week, especially after the strong labor market news. Home loan rates remain historically attractive.

Government Agency Approvals

FHA Non-Supervised Mortgagee Approval #:
24751-0000-5
VA Automatic Lender Approval #:
902324-00-00

Mortgagee/Loss Payee Clause

Carrington Mortgage Services LLC
ISAOA/ATIMA
P.O. Box 692408
San Antonio, TX 78269-2408

Industry Links

Loan Limits LookupMortgage Letters
This information is provided for your convenience and Carrington Mortgage Services, LLC makes no warranties concerning the accuracy or completeness of any of the information. This is not financial or legal advice and should not be taken as such. This information is for mortgage professionals only and is not intended for distribution to consumers.
CAREERSINVESTORSABOUT USCORRESPONDENT
An Equal Housing Opportunity Lender. Copyright 2007 - 2023 . Carrington Mortgage Services, LLC headquartered at 1600 South Douglass Road, Suites 110 & 200-A, Anaheim, CA 92806. NMLS ID # 2600. Toll Free # 800-561-4567. All rights reserved. Restrictions may apply. All loans are subject to credit, underwriting and property approval guidelines.  Nationwide Mortgage Licensing System (NMLS) Consumer Access Web Site: www.nmlsconsumeraccess.com.

The content of this website is intended for licensed third party originators or brokers only and may not be duplicated or disseminated to the public. Carrington Mortgage Services is one of the leading wholesale mortgage lenders.

Government Agency Approval | FHA Non-Supervised Mortgage Approval #: 24751-0000-5 | VA Automatic Lender Approval #: 902324-00-00

linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram