With all the doom and gloom we're hearing about the economy, it's often helpful to take a look at info as it relates to our local markets. As you will see, Washington County, Oregon ranks lowest in the state of Oregon and Sherwood, Oregon is lowest in the county.
Unemployment Rates | | |
|
| Mar
2007 | Feb
2007 | Mar
2006 |
Oregon
(Seasonally Adjusted) | 5.2% | 5.3% | 5.4% |
Oregon (Unadjusted) | 5.8% | 6.2% | 6.0% |
Portland-Vancouver-Beaverton MSA | 5.3% | 5.6% | 5.5% |
Clackamas County | 4.9% | 5.1% | 5.2% |
Columbia County | 6.0% | 6.6% | 5.9% |
Multnomah County | 5.3% | 5.6% | 5.5% |
Washington County | 4.6% | 4.9% | 4.8% |
Yamhill County | 5.4% | 5.9% | 5.6% |
Source: Oregon Employment Department |
The National Average is 4.5% with Montana being low at 2% and Mississippi highest at 6.9%.
Breaking this down at the city level for Washington County.
Labor Force Statistics - Employment Status of Residents living in the following County or Cities
Washington County | |
Employed Residents | 268,465 |
Unemployment Rate | 4.6% |
| |
Sherwood | |
Employed Residents | 7,400 |
Unemployment Rate | 3.4% |
| |
Beaverton | |
Employed Residents | 47,307 |
Unemployment Rate | 4.5% |
| |
Tigard | |
Employed Residents | 26,168 |
Unemployment Rate | 4.3% |
| |
Tualatin | |
Employed Residents | 14,595 |
Unemployment Rate | 4% |
In addition, Oregon's wages are increasing slightly ahead of the nation, and Washington County's slightly ahead of the state.
Mortgage Rates are still at all time lows. The "par" rate for a 30 year fixed conforming loan with good credit and an 80% loan-to-value is 5.875%
Home prices are still increasing and the "fervor" is off the market.
All in all, Washington County is still a good place to live in and do business in.
Larry Morris is a loan Officer with Equipoint Financial Network in Newberg, Oregon. He specializes in relocations and Sherwood, Oregon neighborhoods. He can be reached at larry.morris@equipoint.com . His website is www.PDX-Mortgage.com . This material is copy protected 2007 by Larry Morris, Mortgage News that Matters. All Rights Reserved
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Larry Morris is a Certified Mortgage Planning Specialist with American Nationwide Mortgage Company in Newberg, Oregon. He specializes in USDA Guaranteed Rural Home Loans, FHA Purchase and Refinance, FHA 203k Rehab loans, Sect 184 Native American loans, Hobby Farm loans and conforming purchase and refinances in the states of Oregon and Washington.
He can be reached at 503-421-0096, or larry@PDX-Mortgage.com.
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.
APR rates are subject to change based on lender's normal credit guidelines and market conditions.
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This is why Washington County is also talking about doing the high rise condos out in the Hillsboro area.