Employment Report Could Drive Market
Wednesday, January 8, 2014 • 11:26am
On Monday, the Senate approved Janet Yellen to be the first chairwoman of the Federal Reserve replacing Ben Bernanke. Yellen’s term begins on February 1. For the first full week of 2014, we get additional economic data and insight into the Fed’s plans for the future. On Wednesday, the Mortgage Bankers Association will release the mortgage purchase application index. In its December report, the index for mortgage activity fell 6.3%. Also on Wednesday, the Fed will release the FOMC minutes from its December meeting. In addition to what the minutes reveal, Friday’s Employment Report for December could drive the market. The consensus is for the unemployment rate to hold steady at 7.0%. The economy has now added 8.1 million private sector jobs since February, 2010.
Mortgage Executive Magazine recently recognized Guaranteed Rate’s CEO, Victor Ciardelli, as CEO of the Year for 2013 in their list of the 100 Most Influential Mortgage Executives in America. This list serves as a way to recognize and celebrate the service, dedication and hard work that mortgage executives put into building their companies and servicing their employees and clients.
As Ciardelli states in the article, “The greatest opportunity in the mortgage industry today is the ability to add value for borrowers, loan officers and real estate agents through technological enhancements that make the home buying process simpler, faster and easier to understand. At Guaranteed Rate, we believe that applying technology can be an industry game changer so we’re investing in technology that enables consumers to find and apply for a loan that’s right for them.”
Also recognized as Top Influential Mortgage Executives of 2013 were Guaranteed Rate’s Vice Presidents of Mortgage Lending Tom Gamache and Dan Moran.
To see the entire list of 100 Most Influential Mortgage Executives in America for 2013, click here.
This column takes a look at current mortgage rates, market trends and indexes. Jon Lamkin is Vice President of Mortgage Lending for Guaranteed Rate, 322 Route 46 W Suite 170 • Parsippany, NJ • 07054. He may be reached at 973.939.8661 / firstname.lastname@example.org / www.guaranteedrate.com/jonlamkin
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