Mortgage Daily

Published On: May 2, 2014

A solid showing for U.S. employment wasn’t enough to bolster monthly mortgage employment numbers, but it was enough to push mortgage rates higher.

The U.S. economy added a whopping 288,000 jobs in April, according to the Bureau of Labor Statistics. That was far more than the 192,000 positions added a month earlier and 165,000 a year earlier.

In addition, the unemployment rate dropped to 6.3 percent from 6.7 percent in March. Unemployment was 7.5 percent in April 2013.

“Employment gains were widespread, led by job growth in professional and business services, retail trade, food services and drinking places, and construction,” the report said.

In early trading, the price of the 10-year Treasury note fell 13/32 — pushing the yield higher. The 10-year yield is tracked by fixed mortgage rates.

The bureau, a division of the Department of Labor, reported that 279,000 people were employed in the mortgage industry as of March. The total excludes mortgage employees in other industries such as banking.

Mortgage jobs fell from February, when the number was 283,700.

They were also down from 301,100 in March 2013. The year-earlier data was originally reported at 288,900.

The latest month reflected 208,300 employees in “real estate credit,” declining from 212,000 in February and 226,200 in March 2013.

Another 70,700 were classified as “mortgage and nonmortgage loan brokers” as of March. This category moved down from 71,700 the prior month and 74,900 the same month in the prior year.

FREE CALCULATORS TO HELP YOU SUCCEED
Tools for Your Next Big Decision.

Amortization Calculator

Affordability Calculator

Mortgage Calculator

Refinance Calculator

FHA Mortgage Calculator

VA Mortgage Calculator

Real Estate Calculator

Tags

Pre-Approval Resources!

Making well educated decions in a matter of minutes and stay up to date on the latest news Mortgage Daily has to offer. Read our latest articles to stay up to date on what’s going on…

Resource Center

Since 1998, Mortgage Daily has helped millions of people such as yourself navigate the complicated hurdles of the mortgage industry. See our popular topics below, search our website. With over 300,000 articles, we are guaranteed to have something for you.

Your mortgages approval starts here.

Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here.

Stay Up To Date with Today’s Latest Rates

Mortgage

Today’s rates starting at

4.63%

5/1 ARM
$200,000 LOAN

Home Refinance

Today’s rates starting at

4.75%

30 YEAR FIXED
$200,000 LOAN

Home Equity

Today’s rates starting at

3.99%

3 YEAR
$200,000 LOAN

HELOC

Today’s rates starting at

2.24%

30 YEAR FIXED
$200,000 LOAN