job losses

Economy

Well, it’s official – it’s a Recession!! What does it mean for Mortgage Rates?

by Steve Heideman | December 8, 2008

The week’s most talked-about story hit the wires Friday. According to the government, the U.S. economy shed 533,000 jobs last month and the national Unemployment Rate rose to 6.7%.  This was the largest number of jobs lost in any one month since the recession of 1974. In a normal market, job losses of this magnitude would [...]

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