In the news this morning worker productivity grew to its highest levels seen in six years as employers require more out of their remaining staffs. Labor costs fell by the most in nearly 8 years at a decrease of 5.8% with productivity jumping 6.4%. The average hours worked fell at 7.6% while compensation rose .2%.
U.S. Wholesalers decreased inventories for the 10th straight month, showing a decrease of 1.7% which is the longest series of decline since recording begun in 1987. Sales we're up .4%.
In Fed news, today's begins the 2 day FOMC meeting, however no changes are expected and 37 billion in 3 year notes to be auctioned today.
Auctions are as follows
Today - $37 Billion 3 year notes
Tomorrow - $20 Billion in 10 year notes
Thursday - $15 Billion in 30 year bonds
Have a great day and hope for great auction turn outs!
Jay Cain
About The Utah Finance Guru!
- Cindee D. Stone
- Loan Officer Interview Q and A: How long have you been in the mortgage business? I have been in the mortgage industry for over 18 years. I have been very blessed and fortunate to have worked with so many wonderful people! How has the mortgage industry changed since you started, and what would you expect in the future? The mortgage industry and changed so much over the last few years. And, continues to change on a daily basis. It is very important to have a loan officer that has the experience to guide you through the process with success. What can borrowers do to insure a smooth mortgage underwriting process? The most common issue during the loan process is getting all of the documents from the borrowers. It is so different now and so much more is needed. This allows us to see the entire picture and make sure it all goes as smooth as possible. What provides you with the most satisfaction in your job as a Loan Officer? Even though the mortgage industry is harder these days, it will never take away the satisfaction and happiness with assisting someone getting into the home of their dreams! Or, helping a homeowner refinance and save money.
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