The New York Times this morning led with an article that stated that the US has added jobs during the month of November. The article goes on to say… “That economists had raised their estimates for today’s report after a separate employment survey showed an unexpected surge in November payrolls. But the Labor Department’s report, considered a bellwether for the broader economy, showed more modest gains, with a jump in service-sector and government jobs but declines in factory and construction payrolls.
The report reinforces investors’ expectations that the Fed will lower interest rates again at its meeting on Tuesday. Some market participants have called for an aggressive half-point cut, but continued strength in the job market may make a quarter-point cut more likely. Central bankers have said they intend to avert a recession, but several are wary of sparking inflation with an unnecessarily sharp cut.”
Can a rate cut from the Bank of Canada be far behind as the central bank tries to moderate the Canadian dollar against the US dollar. Mortgage rate declines are still in question because the impact of the subprime crisis and its impact on the Bankers Acceptance rates which drive mortgage rates.
The delay in the recession will give the bankers an opportunity to sort out the subprime mess without the complication of a recession.
Duncan Seward is a mortgage broker in BC. Duncan’s business focus is as an advocate for people who have been turned down by conventional lenders. He specializes in second mortgage with bad credit in BC and debt consolidation mortgage loans in BC.
No comments:
Post a Comment