A strong Employment Report, a real increase in hourly wages, and a low unemployment rate often collude to drive interest rates in a direction unfriendly to homebuyers or those with ARMs. The jobs report can have an immediate impact on your monthly mortgage payment. Financial markets prognosticators argue that economic forecasts are already “priced-in” to the markets well ahead of the actual report. In fact, the headline unemployment rate may not be as important as it once was, but today, with it at 5.3%, we should all get used to those higher monthly mortgage payments.
