An unexpectedly strong jobs report dealt a blow to the housing industry, which is already struggling with mortgage rates near 8%.
The September jobs report showed far higher gains than expected, indicating that the economy is continuing to strengthen. This is bad news for the housing industry, which is already struggling with high mortgage rates.
The housing industry is already facing affordability challenges and this news will only make things worse. The strong jobs report indicates that wages are rising, which will lead to even higher home prices and fewer buyers. This could lead to a sharp slowdown in the housing market in the coming months.
You can read this full article at: https://www.housingwire.com/articles/economy-adds-336000-jobs-in-september-a-blow-for-housing/(subscription required)
Note Servicing Center provides professional, fully compliant loan servicing for private mortgage investors so they can avoid the aggravation of servicing their own loans and just relax and get paid. Contact us today for more information.