December 14, 2017

Seattle Real Estate Mortgage Rates Today 10/5/2011

Seattle Real Estate Mortgage Rates Today 10/5/2011:  As we mentioned yesterday, the EU was brainstorming ideas of how to recapitalize the banks.  This positive news pushed stocks higher in the final hour of trading yesterday afternoon.  Financially stable EU countries like Germany and France continue with their support in ensuring that the Euro is intact and mitigate the debt crisis in Greece.  Although we will experience the initial problems stemming from Greece in the near-term, the support from the EU will assist in holding back other problems soon to arise as they collaborate on what longer-term measures are needed to avoid the crisis from spreading.

Are jobs being created?  The National Employment Report from ADP reflected the creation of 91,000 jobs during the month of September.  The report surpassed the expectation of just 45,000 jobs; this number does not reflect the 40,000 strikers form Verizon that have already returned to work.  Watch for tomorrow’s official Jobs Report as economists are speculating a creation of 60,000 jobs along with an additional 83,000 jobs in the private sector.

And the downside…?  A report from the oldest outplacement agency, Challenger, Gray & Christmas, expects 116,000 planned layoffs ahead.  However, that expectation is made mostly of the already announced layoffs from the Army’s troop reduction and Bank of America’s downsizing.  Do not mistake this as another weakness in our already debilitated economy; but as we see more fed spending cuts, layoffs are sure to ensue.

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