Employment numbers looking better!

The U.S. labor market improved in November, with the unemployment rate falling back to 10% and job losses shrinking to the lowest level in nearly two years.

Payrolls dropped by a seasonally adjusted 11,000 in November, the fewest jobs lost since December 2007, the beginning of the recession. Payroll losses in September and October were revised lower by a total of 159,000. It was the 23rd straight month of payroll losses, amounting to 7.16 million total jobs lost.

The report amounted to "an early holiday present that may support that a long, slow recovery is under way and was much better than expected by economists who were looking for 100,000-125,000 fewer jobs and a steady 10.2% unemployment rate.

Unfortunately, good news in the economy means higher interest rates in general but we're in a whole different market since the Fed, the Treasury and the government are doing whatever they can to keep the economy stimulated and what better way than to keep these historic mortgage interest rates to an all-time low and a housing market looking to turn that corner very soon.  Let's hope the "market makers" know what they're doing to keep this in a positive flow.

If you've been thinking of buying that new home or possibly dropping your monthly payments with a refinance, this may be the ideal time to get that ball rolling before rates start moving up again.
Have a great weekend!
Thomas Ray,M.S.,Realtor
Cell/Txt:310-420-1149
Email: Thomas [at] LAexclusiveProperty.com
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