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Jobs Data Happy Tune for Economy, but Funeral Dirge for Low Mortgage Rates

January 7, 2011

The word of the week is jobs. For months, we have heard economists near and far assure us that as go jobs so goes the economy. After all, to buy goods and pay their mortgages, consumers need a steady and predictable source of income, i.e. a job. Now after painful year of anemic employment, it appears that we may finally seeing a sustained turn around in the jobs sector.

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Update to article:

Well, this time we ate the bear. The government jobs report, which came in mixed, is generally accepted as a disappointment. While overall unemployment did drop, the number of jobs created did missed expectations. The end result is a reprieve for those squarely on the fence on what to do and those in the process of buying a property who have not locked a final rate. I want to stress that this should not by any means lull anyone into a false sense of security. Think of it as a shuttle launch that has been delayed due to technical issues. Like the shuttle, the rate rocket will, at some point launch, but not today.

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