Experts have pointed to the monthly employment report as the bellwether of economic indicators. It makes sense. After all, it is working people who power the economy. When jobs are plentiful, the economy is typically humming along. And when unemployment rises, we are typically heading for a recession.
That has changed.
During the past year and a half, in regard to predictions and analysis, we are in unchartered territory. The economy has created fewer jobs in the past year than any non-recessionary period in memory. But that’s not the whole story.
There are so many factors in play this year that it’s hard to predict whether this pace of job creation will be a new normal. Certainly, elevated inflation numbers will also be an important part of the equation. One thing is for sure, there is never a dull moment when you are talking about our nation’s economy and the world’s economy as well.*
So far this year, and again this week, mortgage rates have remained stable. There have been the little blips and bumps, but overall, we’d have to call the interest rates flat.*
The 30-year fixed rate for conventional loans averages nationally to be about 6.5%.
For 15-year fixed rate conventional loans: 6.25%.
For FHA loans (with higher fees) 6.25%.
For VA loans 6.25%.
For now, mortgage rates in the mid-6% range seems to be holding steady. Only God knows what the future will bring.
*Many thanks to Origination Pro and Mortgage News Daily for this information.
Hi, Carolyn,
You may remember me from using your credit repair books to improve my credit to buy my 1st House on VA loan in 2020. Unfortunately my wife who is still in Philippines after over 7 years apart never lived in that house. As much as I enjoyed the 3.25 mortgage rate my neighborhood became a dangerous place to live. I sold the house and netted $91,000. 2 hours after closing i took an Uber to the airport and bought a ticket to Manila to be with my wife and family exactly 9 months.
While waiting 4 hours for my flight i paid off all my debt about $40,000.
I enjoyed 9 months with my Beloved Rosie. I flew back to America in early February and closed on a new house in Conway, SC in 31 days from my arrival here, also VA Loan. 6.75% on March 13th.
More scores at the Big 3 credit bureaus range from 791 to 803. I still have a lot of inaccurate personal info on there so im probably over 800 once I remove those old addresses etc. Im also going after LexisNexis (& SageStream,their other bureau) Inovus, & Corelogic…HARD!
AFTER removing all my old addresses, names, phone numbers, etc my scores will go over 800 for sure. I have zero derogatory info and perfect payment history.
The world got very expensive for a guy on va comp and ssi but im getting through it.
My Rosie got her Immigration Visa approved now waiting up to a year for her embassy interview to travel to our new home 🏡.
Thank you for your inspiring work that helped me every step of the way!
Gid Bless You, Ma’am!!
David & Rosie Simone
South Carolina & Philippines.
David, I do remember you. What an amazing life journey you have had! Congratulations on having top tier credit. You can be proud of your 791-803 scores! You don’t need to do anything but maintain and let time be your friend. I am happy that you reunited with your precious family. May God continue to guide and bless you!