December jobs report: now with short term mortgage rate analysis from steve dave

[0.42]

74,000 jobs added, less than half of what was forecasted. Unemployment "dropped" to 6.7% but most of it was people leaving the labor force. Many of the jobs that were created were crappy retail jobs.

Everyone start blaming everyone else and go

[steve dave]

thoughts on potential to drop mortgage rates in the near term? 

['taterblast]

thoughts on potential to drop mortgage rates in the near term? 

define near term... 18 months? 

[0.42]

thoughts on potential to drop mortgage rates in the near term? 

being able to afford a house sounds pretty fun imo

[steve dave]

thoughts on potential to drop mortgage rates in the near term? 

define near term... 18 months? 

I'm talking (and only caring about) like 3 months from now 

['taterblast]

meh

[Dugout DickStone]

thoughts on potential to drop mortgage rates in the near term? 

If this doesn't do it, nothing will.

[slobber]

thoughts on potential to drop mortgage rates in the near term? 

define near term... 18 months? 

I'm talking (and only caring about) like 3 months from now 

How soon can you lock in your rate? That is always a fun game to play when getting a mortgage. I really never have screwed it up too badly, but lost 3/8 once, which was kind of bad. Have also nailed it a couple of times when it took a 1/4 pt dip for one day and then went right back up and never got that low again during the opportunity to buy.

[Emo EMAW]

thoughts on potential to drop mortgage rates in the near term? 

define near term... 18 months? 

I'm talking (and only caring about) like 3 months from now 

How soon can you lock in your rate? That is always a fun game to play when getting a mortgage. I really never have screwed it up too badly, but lost 3/8 once, which was kind of bad. Have also nailed it a couple of times when it took a 1/4 pt dip for one day and then went right back up and never got that low again during the opportunity to buy.

Won't some places allow a one-time 1/8th or quarter point drop?

[slobber]

thoughts on potential to drop mortgage rates in the near term? 

define near term... 18 months? 

I'm talking (and only caring about) like 3 months from now 

How soon can you lock in your rate? That is always a fun game to play when getting a mortgage. I really never have screwed it up too badly, but lost 3/8 once, which was kind of bad. Have also nailed it a couple of times when it took a 1/4 pt dip for one day and then went right back up and never got that low again during the opportunity to buy.

Won't some places allow a one-time 1/8th or quarter point drop?

Yes, this is true. Some will allow a change for a certain amount of time, and I think some allow a one time change throughout the life of the mortgage. In my experience, it is not always the case, and I have went with a lender that wouldn't allow it on at least one occasion. It wouldn't have mattered in the above bad case, as it hit a low, I didn't lock it in, and then it went back up and I kept on waiting for it to go back down, but it never did.

[sys]

thoughts on potential to drop mortgage rates in the near term? 

not likely to drop or rise much near term.

[john "teach me how to" dougie]

Back on track here.

Curious why despite the huge miss in payrolls the unemployment rate tumbled from 7.0% to 6.7%? The reason is because in December the civilian labor force did what it usually does in the New Normal: it dropped from 155.3 million to 154.9 million, which means the labor participation rate just dropped to a fresh 35 year low, hitting levels not seen since 1978, at 62.8% down from 63.0%.

http://www.zerohedge.com/news/2014-01-10/people-not-labor-force-soar-record-918-million-participation-rate-plunges-1978-level

[K-S-U-Wildcats!]

The U3 Unemployment Index is a joke. It has no further relevance in the New Economy as more and more people abandon the workforce. At this point, the U3 is simply propaganda for the liberals and their media mouthpieces. Even some of the MSM are now leaving the reservation.

[0.42]

Back on track here.

Not a very moderate move by you here.

[steve dave]

thoughts on potential to drop mortgage rates in the near term? 

not likely to drop or rise much near term.

SO FAR SO GOOD SYS IN YOUR FACE BY ABOUT 15/100ths! DROP! DROP! DROP! DROP! 

[sys]

seems like the 10 year has been going up and down 25 bp since the summer.  3.5 top, 2.5 bottom, 3.25-2.75 range most likely.

[0.42]

thoughts on potential to drop mortgage rates in the near term? 

not likely to drop or rise much near term.

SO FAR SO GOOD SYS IN YOUR FACE BY ABOUT 15/100ths! DROP! DROP! DROP! DROP! 

I'm really happy with the direction this thread has taken

[steve dave]

DROP! DROP! DROP! DROP! DROP! 

[0.42]

 

[john "teach me how to" dougie]

Our pain is your pleasure!

[steve dave]

DROP! DROP! DROP! DROP! DROP! 

 

[OregonSmock]

One of the main reasons why the labor force is shrinking - the public sector has lost hundreds of thousands of jobs since 2009:



Also, baby boomers are starting to retire.

[8manpick]

One of the main reasons why the labor force is shrinking - the public sector has lost hundreds of thousands of jobs since 2009:



Also, baby boomers are starting to retire.

Why in the hell would they only show GW's first term?

Edit:  Nevermind, I can totally see why it is totally relevant to compare 2001-2004 to 2009-2011

[OregonSmock]

[john "teach me how to" dougie]

Not sure what you're trying to show here. Maybe that this is a jobless recovery, or that there hasn't been a recovery yet? Whatever it is it's not good.