If you’re a current Denver homeowner looking to refinance or a potential Denver home buyer, the labor market has just given you something to smile about.
The recent Jobs Report confirmed that job numbers have gone up and the unemployment rate has gone down. More than 257,000 private-sector jobs have been created since the previous Jobs Report, and the Unemployment Rate has dropped by 0.2 percent landing at 8.3 percent—the lowest rate since February 2009.
And according to the Commerce Department, December personal incomes jumped up 0.5 percent, which was higher than expected and a vast improvement over November’s 0.1 percent. In fact, this is the largest increase in the past nine months.
So how does all this help with home buying and refinancing for Denver residents? Although it’s been one step forward and two steps back at times the labor market is slowly improving, giving people confidence that their employment won’t be pulled out from under them.
Combine this job confidence with interest rates that are still at near-record lows and you have a good scenario for folks to think about (and possibly make) larger purchases such as a home or a home refinance. And once the trend starts, more people will opt in causing prices to rise.
So now really is a great time to buy or refinance a home, and lenders are ready and waiting. If you act now, you’ll likely save yourself lots of money and get your pick of the many beautiful Denver homeson the market.
Let the professionals at the Bandy Team help you buy or sell a Denver home, contact us for a no-obligation consultation. If you’re thinking about buying a home in Denver, we can show you some terrific properties in Denver, including homes in Denver Highlands and real estate in Washington Park (also known as Wash Park). You may also be interested in horse property in Franktown or homes in Parker, including a wide variety of homes in Canterberry and real estate in Stonegate.
Marianne Bandy
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