June Unemployment Figures are GOOD!

Total nonfarm payroll employment increased by 288,000 in June, and the unemployment rate declined to 6.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains were widespread, led by employment growth in professional and business services, retail trade, food services and drinking places, and health care. How does this affect rates? Well we all know that as the economy improves, rates go up. We are not expecting a huge increase in rates but they will go up a little at a time as the economy keeps getting stronger.

Rates are still very low. More loan programs are coming out every day!

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