📊🇺🇸 THE U.S. ECONOMY ADDED 162,000 JOBS IN AUGUST — BUT WHAT DOES THAT MEAN FOR MORTGAGE RATES? 🏡

📊🇺🇸 THE U.S. ECONOMY ADDED 162,000 JOBS IN AUGUST — BUT WHAT DOES THAT MEAN FOR MORTGAGE RATES? 🏡

The latest jobs report delivered a surprise:

💼 162,000 jobs added in August
📈 55,000 additional jobs added through revisions to June & July
👷 Construction employment +22,000
🏡 Residential construction +10,700
📉 Unemployment remained at 4.1%
💰 Wage growth slowed to 3.1% year-over-year

On the surface, that's GOOD NEWS.

More people working.
More people earning paychecks.
A labor market showing resilience.

But here's where it gets interesting for anyone watching mortgage rates…

🏦 STRONGER JOBS CAN MAKE RATE CUTS MORE COMPLICATED.

A healthy labor market can give the Federal Reserve less reason to rush into lowering interest rates.

And with inflation still being influenced by higher energy and gasoline prices, the Fed has to balance two competing forces:

A strong economy vs. persistent inflation.

That's why a strong jobs report can actually create some upward pressure on interest rates.

And remember:

THE FED DOES NOT DIRECTLY SET 30-YEAR MORTGAGE RATES.

Mortgage rates are heavily influenced by the bond market, including movements in longer-term Treasury yields.

🏗️ WHAT ABOUT HOUSING?

Construction employment increased by 22,000 jobs in August, including a strong gain in residential construction.

That's encouraging because we desperately need more housing supply.

But there's an interesting caveat…

Residential construction employment has still declined year-over-year, meaning the industry continues to face challenges despite August's improvement.

So what should buyers and homeowners do with all of this information?

DON'T TRY TO PREDICT THE NEXT RATE MOVE.

Instead:

🏡 Know what you can afford.
💰 Understand your down-payment options.
📊 Know your monthly payment.
🔑 Understand the loan programs available to you.
📈 Watch the market—but don't let headlines make your decisions for you.

Because here's something I've learned after two decades in this business:

Waiting for the “perfect” rate can sometimes mean waiting for a market that doesn't exist.

If rates fall substantially, more buyers may jump back into the market.

If rates stay higher, buyers who are prepared may have more negotiating opportunities.

There isn't a crystal ball.

THERE IS A PLAN.

📲 #JUSTCALLWILLIAM
☎️ 630-881-8655

Let's talk about YOUR numbers—not somebody else's prediction.

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