Last Week in Review...

     On Friday, the Labor Department reported that 69,000 jobs were created in May, with 82,000 private sector job gains offsetting government jobs losses. This was a HUGE downside miss - basically half of what was expected. Adding to the pain were downward revisions to the previous two months, which erased another 49,000 jobs from what was previously reported. And if that wasn't enough, the unemployment rate ticked up to 8.2%, when expectations were for it to hold steady.

     The Labor Force Participation Rate (LFPR) actually improved by .2% to 63.8, but it is still hovering at a 31-year low. The LFPR is quite simple: If you are 16 years of age and not in the military and you have a job, then you are participating. If you don't have a job, you are not participating - that is how the ratio is measured. The big picture is how do we as a country reverse this significantly negative trend? We must have more people participating or working to help pay for those who are not.

     So what does all of this mean for home loan rates? Remember that weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve. And last week, several weak economic reports and the ongoing drama in Europe helped home loan rates reach record best levels. With inflation moderating, Stocks getting killed, and the US Dollar very strong thanks to the drama in Europe, the Fed has room for more stimulus (known as Quantitative Easing, or QE3). But it's important to note that with home loan rates already at historic lows, another round of easing probably won't cause home loan rates to move much lower.

     The bottom line is that home loan rates remain near historic lows and now continues to be a great time to purchase or refinance a home. Let me know if I can answer any questions at all for you or your clients. 

Home Inventory Made Easy: 

Send This Link to Clients and Friends 

     Here's a great idea you can pass on to your clients, friends, and family members - whether they've owned a home for decades or are just settling into homeownership.
Imagine the nightmare of having a home damaged or destroyed. Then, to make matters worse, imagine trying to remember all of the home's contents for insurance and replacement purposes. Many thousands of Americans find themselves in that situation every year.

Now's the time to make sure that doesn't happen!

Here's how...

     Homeowners can create a home inventory list with ease thanks to FREE access to the Insurance Information Institute's "Know Your Stuff" software, which is available at www.knowyourstuff.org. The software is user friendly...available as an app...and even provides free secure storage online so users can be sure their inventory is accessible in the event that their home is damaged.

     After a quick setup, users can create a name for each room in their home - kitchen, living room, family room, master bedroom - and begin adding items. A drop down list is even available with the most common household items as well as the specific information required by insurance companies, in case a claim needs to be filed. Want to add a picture or a receipt for a large ticket item? No problem, just upload the image.

     Once the home inventory is completed, it's a good idea to have the homeowner's insurance agent review the list to make sure the home has sufficient coverage.