Jobs Report Good News for Mortgage and Real Estate

The national unemployment rate dropped .2% in November compared to the previous month. The Bureau of Labor Statistics reported the lowest number of job losses since the recession began, which is good news for the mortgage and real estate industries, considering that jobs play a major role in the housing recovery.

This is also good news for the Federal Government's mortgage modification program, which has been set back by a high number of re-defaults. The Home Affordable Mortgage Program will probably have better success if employment rates continue to improve.