Janet Yellen’s term is up in February. Will the current administration ask her to stay on board?
Probably not. And here’s what it means for mortgage rates…
Hey, Brian Manning here with the update – let’s get right to it. So Monday was really quiet news day but now we’re starting to get more and more talk about Janet Yellen so that chair Jenny Yuans term is gonna be up here in February now there’s a question over the current administration renewing our term or they replaced her with someone else so there’s a possibility that they can replace it with former Fed governor. Kevin Warsh and you know on the challenges or differences I should say is that he’s very hawkish which means he’s very much in favor of rate hikes whereas Janet Yellen is very dumbest so she had been slow and cautious to go through the great hike process but Yellen is also very much in favor of additional banking regulations and as we all know the current administration is not very much a fan of this so be interesting to see here what happens in February but I’m not a betting man but if I was gonna bet in this I’d have to say Kenny unfortunately probably be gone after governor this
upcoming year Tuesday’s we’ve got core logic so home appreciation so year-over-year basis August 2016 to August 2017 on a national basis housing appreciation of six point nine percent that’s a really strong number almost a little too strong you’d like to see it maybe pull off a little bit and because we start sitting these really high numbers that you know starts to become potentially unsustainable for a long amount of time so what’s amazing as well as the case-shiller mirrors this as well so regardless see they’re really strong appreciation on a national level Wednesday this week RT jobs week I can’t believe it we get a BP ADP is the largest provider of private payrolls here in the US and this this month’s jobs weeks we got to kind of take with a grain of salt because we have hurricanes that have impacted major US markets so a lot of people aren’t looking as strongly
in jobs weeks but are this month’s jobs week but with that said ADP expectations for 133 thousand new jobs to be created
for the month of September came in with analysts expectations Thursday quiet news day then we get the BLS job support edits and Bureau of Labor Statistics so BLS again take with a grain of salt because hurricanes but shows it 33,000 jobs lost in the u.s. for months September that’s not really the market mover what’s the market mover out of today’s data is hourly earnings so always looking at what’s called wage pressure inflation what’s happening with hourly earnings and hourly earnings the strongest in years of five tenths of a percent month-over-month so just means people are making more money and this is the highest in years as well on an annual basis of 2.9 percent also we have the unemployment rate down to four point two percent so all this probably leading into a Fed hike the rest year coming up in December it would not be surprised to see the Fed hike rates there I’m around all weekend you have any questions let me know love to help you happy trying to have a great day!
Brian Manning is a licensed Loan Officer in Colorado for Guild Mortgage Company; Regulated by the CO Division of Real Estate. Licensed in the states of Colorado and Florida, NMLS #324952. The postings on this blog don't necessarily represent the positions, strategies or opinions of Guild Mortgage Company or its affiliates. This information is not guaranteed to be accurate and shall not be construed as a guarantee of loan approval. All loans are subject to underwriter approval, and are subject to change without notice.
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