The fourth quarter is off to a big start for the economic basics that drive housing demand.
Mortgage rates edge up, with the average 30-year fixed mortgage rate back above 4%. With the financial system and the job market continuing to show impetus, it is looking more and more likely that rates will rise in 2015, potentially as early as the spring.
Employment is also improving. October delivered another month of more than 200,000 new jobs, so the U.S. should come close to 2.3 million jobs created this year. This job growth favors the young, as employment is growing at an even faster rate for those under 35.
The stage is set for the housing recovery to end the year with impetus, but that also means that the end is in sight for in history low Mortgage Rates.
Industrialized in the U.S.very important for continued growth in jobs, especially higher-paying jobs continue to grow. This can be seen in the ISM industrialized Index, which increased 4% over September. The only fundamental point of weakness was slowing demand for exports. Data on new orders, inventory and employment all point to steadily rising strength, however.
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