Economic News…Bond markets got a big jolt this morning with the release of the Employment Situation report. The stronger than expected report revealed that 257,000 non-farm payroll jobs were created in January and both November and December numbers were revised sharply higher as well. In addition to this there was a big uptick in average hourly earnings. While this is good news for workers and the economy money in bonds headed for the door. Factory Orders and the ISM Manufacturing data were much less positive. The … [Read more...]
Tri-Valley Mortgage & Market Update for August 9th
Economic News...was light for the week. Manufacturing and Employment data met expectations. Even though the market was calm, news in the mortgage world was more robust. Several cities have investigated the use of Eminent Domain to seize underwater mortgages within their jurisdiction, modify the terms of the loans and then resell them. While this sounds like a worthy goal there may be a backlash from those willing to lend in these areas in the future. Just in the last few weeks Richmond, CA has moved further than … [Read more...]
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