The U.S. economy reached an important milestone in October that ought to put it on a more sustainable footing going forward: wage growth eclipsed mortgage rates for the first time since 1972. Average hourly earnings for production and non-supervisory employees -- who comprise more than 80% of the U.S. private-sector workforce -- rose 3.8% from a year earlier in October, according to Labor Department data published Friday. The average 30-year fixed mortgage rate in the U.S. in October was about 3.7%, according to Freddie Mac data.
Full Article here: U.S. Wage Growth Eclipses Mortgage Rate for First Time Since 1972
#RealEstate #AustinHomes #Thomas&KauffmanTeam #MoveToAustin #Relocate #RelocateToAustin #AustinHomeBuyers #AustinHomeSellers #AustinJobs #AustinRealEstate #HomeForSaleAustin
(512) 730-1252 or info@AustinTxHomeSales.com
If you are unable to open the link/article above, please let us know so we can get it to you another way.