Shelter Six:  Jobs Way Up in February

March 12, 2018 by · Leave a Comment 

1. The economy gained an enormous 313K jobs in February, much higher than expected and the largest gain since July 2016.

2. Construction firms added 61K of the jobs, the highest monthly increase in 11 years!

3. As job growth continues to surge, wages continue to remain flat as average hourly earnings did not increase last month near as much as expected.

4. The Unemployment Rate remains remarkably steady though and is still at 4.1% for the fifth straight month.

5. A quick reminder that the 2018 maximum single-family loan limit is $453,100 for Conforming and $359,950 for FHA for the 29 county Metro Atlanta area.

6. In serving Metro Atlanta, Shelter continues to use only the very best local appraisers who know the areas they work and are always willing to go the extra mile.

Rate Update

Mortgage rates continued to move higher last week as a wide range of events, including important labor market data, a European Central Bank meeting, and government policy changes, all affected the markets in different ways.

This Week

The Consumer Price Index is due out on Tuesday, Retail Sales on Wednesday, and Housing Starts on Friday.