The Employment Report's Plans for Your Mortgage Payment

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 arguethat 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.