As we enter in the fourth quarter, the pillars that drive the housing demand are looking promising. First of all, mortgage rates are up with the average thirty year mortgage back above four percent. Rates are predicted to rise in early 2015 as the economy and job market continue to gain strong momentum.
Also, domestic manufacturing is another economic fundamental that continues to show areas of growth, and this is vitally important for the growth of jobs in the U.S. Stemming from this, overall employment has seen positive improvements. In the month of October 2014 alone, a reported 200,000 new jobs were made available, which drives the yearly number of jobs created in U.S. to around 2.3 million.
With this momentum, the economy should continue to make vast improvements. This will have a continued effect on the housing demand and housing market.