According to the August jobs report issued Friday, about 3.2 million people are long-term unemployed, meaning they’ve been out of work for at least six months. They represent 37.4% of all unemployed individuals. This percentage has fallen from its pandemic peak, but still remains historically elevated. Federal unemployment benefits for the long-term unemployed expire this weekend, and job prospects may be impacted by the Covid-19 Delta variant.
Mortgage rates fell sharply during July, with the average on the 30-year fixed loan starting the month at 3.18% and ending at 2.84% (Mortgage News Daily). That drop gave buyers more purchasing power, which likely helped those on the edge of affording today’s high home prices. The lower rates, however, were not enough to really stir the market. Sky-high home prices have still caused affordability to drop dramatically in the last several months.
Keep an eye on the job market, and get your applications ready to lock in your target rates.
根据周五发布的 8 月就业报告，大约有 320 万人长期失业，这意味着他们已经失业至少六个月。 他们占所有失业人员的 37.4%。 这一百分比已从疫情高峰期下降，但仍处于历史高位。 长期失业者的联邦失业救济金将于本周末到期，就业前景可能会受到 Covid-19 Delta 变体的影响。
抵押贷款利率在 7 月份大幅下降，30 年期固定贷款的平均利率从月初的 3.18% 到 2.84%（《抵押新闻日报》）。 这种下降给了买家更多的购买力，这可能有助于那些负担不起当今高房价的人。 然而，较低的利率并不足以真正影响市场。 在过去的几个月里，高昂的房价仍然导致人们的负担能力急剧下降。
|Daily rate based on: SFR/Primary/LTV60/FICO 780/Purchase|
|IMPORTANT: Advertised rates were valid and effective as of the date reflected above, are for informational purposes only, and are subject to change without notice.
Loans are subject to credit and collateral approval. Advertised rates are based on a set of loan assumptions including a borrower with excellent credit history and optimal loan characteristics. Your final interest rate and annual percentage rate (APR) may differ depending on your individual transaction’s specific characteristics, and certain products may not be available for your situation. Several determining factors include, but are not limited to, the state of the property location, loan amount, documentation type, loan type, occupancy type, property type, loan to value, and credit score.
APR reflects the cost of credit over the term of the loan expressed as an annual rate. For mortgage loans, APR may include the interest rate, discount points (also referred to as “points”), and other charges or fees (such as mortgage insurance and origination fees), but does not necessarily take into account other loan-specific finance charges you may be required to pay.