Nonfarm employment increased by 209,000 in June, but the unemployment rate changed little at 3.6 percent, the U.S. Bureau of Labor Statistics reported Friday.
Tag: Mike Fratantoni
Quote: July 10, 2023
“Job gains slowed in June and estimates of growth were reduced for the prior two months. Although the unemployment rate dropped a tenth, the household survey did show some signs of a weaker market, with the U-6 increasing.”
–MBA Senior Vice President and Chief Economist Mike Fratantoni
Fed Keeps Rates Steady But Options Open
The Federal Open Market Committee held rates steady at its June meeting but kept its options open for July and later this year.
Fed Keeps Rates Steady But Options Open
The Federal Open Market Committee held rates steady at its June meeting but kept its options open for July and later this year.
U.S. Adds 339,000 Jobs in May
The Bureau of Labor Statistics said total nonfarm payroll employment was up by 339,000 in May, while the unemployment rate ticked up by 0.3 percentage point to 3.7%.
MBA Weekly Survey May 31, 2023: Mortgage Applications Decrease
Mortgage applications fell again last week, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending May 26.
#MBASecondary23: As Fed, Banks Step Away from MBS, New Investors Prepare to Play
NEW YORK–The supply of available mortgage-backed securities for purchase in the private market is expected to increase drastically over the next two years.
#MBASecondary23: For Secondary Markets, a Cautious Economic Outlook
NEW YORK–Mortgage Bankers Association Chief Economist Mike Fratantoni and Nicholas Maciunas, Executive Director with JPMorgan Chase, New York, offered a cautiously optimistic but guarded economic outlook here at the Mortgage Bankers Association’s National Secondary Market Conference & Expo.
April Employment Beats Expectations
The U.S. economy added 253,000 jobs in April, and the unemployment rate fell again to match a 53-year low, beating analyst expectations, the Bureau of Labor Statistics reported Friday.
Fed Raises Rates; Is That It?
The Federal Open Market Committee on Wednesday, as expected, raised the federal funds rate by another 25 basis points to its highest level since July 2007. And while it hinted this might be the final increase for a while, it left open the door for more action should economic conditions warrant.