Tag Archives: Jobs

December's job gain was close to 2014's average monthly increase, and 2014 was the best year of job growth in the United States since 1999. According to Fannie Mae Chief Economist Doug Duncan, the underlying data may not be so encouraging for the housing market, however.

The Bureau of Labor Statistics (BLS) said Friday that the national unemployment rate was down to 5.6 percent by year-end 2014, bringing that number down to its lowest level since June 2008. Economists had expected the jobless rate would fall slightly to 5.7 percent and that non-farm payrolls would increase by 245,000.

Freddie Mac reported Thursday that the average interest rate for a 30-year fixed-rate mortgage (FRM) fell to 3.73 percent (0.6 point) in the last week, a decline of 14 basis points from the end of 2014. The 30-year fixed started off last year at an average 4.51 percent.

December was the fourth consecutive month and the eighth month out of the last nine in which more than 200,000 jobs were added nationwide. The highest total of jobs added during any one month in 2014 was 297,000 in June. The year began with just 121,000 jobs added in January.

Out of a group of 1,000 Americans polled in Fannie Mae's December National Housing Survey, 41 percent said they now believe the economy is "on the right track," up from 36 percent in November, the company reported. In contrast to December's slightly more positive economic attitudes, consumer sentiment toward the housing market remained subdued for another month.

November's reading had been a disappointment for the Consumer Confidence Index following a post-recession high of 94.5 for October. The Present Situation Index jumped up to 98.6 in the latest reading from its November level of 93.7, while the Expectations Index fell slightly from 89.3 down to 88.5.

The average interest rate for a 30-year fixed-rate mortgage (FRM) product was 3.93 percent (0.5 point) for the week ending December 11, Freddie Mac reported Thursday in its Primary Mortgage Market Survey. The average 30-year fixed rate was 3.89 percent a week ago and 4.42 percent this time last year.

U.S. payrolls for November surpassed even the most optimistic forecasts, increasing at the highest rate in more than two years, according to a government estimate.

In its latest Beige Book—a catalog of economic reports from contacts across all 12 Fed districts—the central bank noted that "national economic activity continued to expand in October and November."

The Thomson Reuters/University of Michigan consumer sentiment index saw its fourth straight monthly gain last month, climbing to a reading of 88.8. The final index fell in between October's final value of 86.4 and a mid-month reading of 89.4 and was once again the highest level since July 2007.