Last week’s national job numbers are encouraging with the unemployment rate falling below 6% for the first time since 2008. Interest rates remain relatively unchanged but, if the labor market (and broader
economy) continues to pick up steam, that may increase the chances of the Federal Reserve raising interest rates in the spring of 2015 instead of waiting until the summer. One local lender recently
shared with us that many of the people that got pre‐qualified for loans during the summer are turning into actual borrowers now. She often hears, “Well we vacationed here for the last 5 years and decided
that it is now time to buy!” 3rd Q Market News 2014