Shelter Six:  Job Growth, Manufacturing, and Consumer Confidence Surge

In March, the economy added 916K news jobs, significantly greater than expected, and the national Unemployment Rate dropped from 6.2% to 6%.

March was also a huge month for manufacturing as they key sector index surged to the highest level since 1983.

U.S. Consumer Confidence jumped to the strongest level since before the pandemic thanks to the vaccine, reopening of the economy, and stimulus checks.

February Pending Home Sales fell 10.6% from January with weakness primarily attributed to a shortage of inventory.

National bans on both foreclosures and evictions have been extended from the end of March to the end of June.

Despite speculation that levels might drop, new HUD Secretary, Marcia Fudge, said that FHA has no short-term plans to change MIP levels.

Rate Update

Mortgage News Daily’s Conforming Purchase 30-Year Fixed-Rate increased slightly from 3.36% to 3.39% last week.

This Week

The ISM Services Index will come out on Monday and the PPI inflation data on Friday.

April 5, 2021 by · Leave a Comment

About James

James A. Williamson is currently the Sr VP of Sales Development for Shelter Lending Services (formerly Fairfield Mortgage). James joined Shelter in 1994 and was the company's top Loan Officer in GA for 20 straight years helping over 2500 families finance their homes. James now oversees an incredible group of Loan Officers in Atlanta while further building Shelter's Atlanta business.

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