The Iran War Is the Reason Mortgage Rates Are Up. [l1BHLhK5SS3]
This week the Bureau of Labor Statistics reported 172,000 jobs added in May, nearly double what economists expected. Job openings came in at 7.6 million in April, beating forecasts. Continuing unemployment claims remain elevated and AI-related restructuring led all layoff categories for the third straight month. 30-year fixed mortgage rates are sitting around 6.5% this week, ticking slightly lower after the report. Cotality is now forecasting 5.3% home price appreciation over the next year. On a $500,000 home that works out to roughly $25,000 in equity gain over 12 months. A strong labor market gives the Fed less reason to move fast on rate cuts, but the direction on rates is slowly improving. For buyers and homeowners trying to make sense of the data, this video breaks it all down in plain language. Noise is when smart people make moves. For honest mortgage advice with zero fluff, visit homeloansbakersfield.com or reach out anytime. Subscribe for weekly straight-talk housing updates. Apply or schedule a call: homeloansbakersfield.com Call/text: 661-342-9381 Dan Ardis, Barrett Financial Group NMLS 1412272 Dan Ardis | NMLS #1412272 | Dan Ardis Mortgage Team powered by Barrett Financial Group, L.L.C. | NMLS #181106 | 3111 Camino Del Rio North, Suite 905, San Diego, CA 92108 | AR 124815 | CA 60DBO-46052 & 41DBO-148702 | KY MB757252 & MC763707 | TX barrettfinancial.com/texas-complaint | Equal Housing Lender | Not a commitment to lend. | nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/181106