Per the report on USA Today, today’s jobs report is weaker than expected. Putting fears on the ability of our economy to maintain momentum while dealing with the impacts of the Federal Spending cuts. Employers added only 162K Jobs in July. Unemployment fell from 7.6 to 7.4 nationally, that is a roughly 20K difference from what economist had predicted for July.
While improvement is good, not enough improvement can signal some stalling.
How this will impact mortgage rates and Real Estate locally is yet to be seen but hopefully it will keep rates down.
RE/MAX Hall of Fame Realtor