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Another Happy Friday to You,

The highly anticipated Jobs Report was released this morning, revealing that employers created 203,000 job last month, above the 188,000 expected and shockingly close to the ADP report released earlier this week (they are notoriously incongruent). The Unemployment Rate fell to a 5-year low of 7% for November and they also revised October down to 7.0% as well.

The Hourly Earnings Rate ticked up to 0.2%, showing that the 93% of the population who is employed is making more money that we were last month, though marginally. Contrast that with a separately measured index, Personal Incomes, which slipped in October by -0.1%. We are not letting that stop our proclivity for reckless abandonment of common sense however; Personal Spending marched up 0.3%. Consequently This Christmas should be 1/3% merrier than the last!

Though they’ll end the week higher, mortgage rates managed to dodge a bullet with the rosy employment outlook. 30 Year interest rates are 4.0-4.5%. Along with higher interest rates on the horizon, a slew of underwriting requirements imposed by our preeminent elected officials (the same ones who contrived the Affordable Care Act) will make it more of a challenge to qualify for financing to purchase your next home starting in January. Get in touch with me sooner rather than later to strategize.

If you are interested in a very useful, very simple (though very comprehensive), and very free loan calculator with up to the minute interest rates for a variety of loan programs, click on this link from your own mobile device: It’s mine so there is no spamming or other baggage associated with it. And if you hate it, you can delete it at any time.