June employment numbers disappoint ... again!
Posted July 6, 2012
Employers added a paltry 80,000 jobs in June; a number which fell short of revised analysts’ expectations… again. The Unemployment Rate stayed flat at 8.2% and the second quarter was the weakest quarter for adding jobs in 2 years, indicating that the jobs market is struggling to regain its footing and that the economy is likely to face additional headwinds for some time to come.
That being said, housing continues to be the beneficiary of our current economic situation, with housing affordability at an all-time high. Mortgage Rates continue their amazing run as well, helping out homeowners across the nation with favorable refinance and home purchase scenarios. Triangle home sales continue to trend well, both in existing and new home categories. The QE3 discussion is heating up again, and it will be interesting to watch the Fed use its tools over the next few months, and more importantly understand what impact the use of those tools will have not only on mortgage rates, but the housing industry in general.
Stay cool this weekend!