Recent Job & Money Reports Spell Good News for 2023 Homebuyers!

December was an overall successful month in terms of jobs gained, with US nonfarm payroll employment increasing by a hefty 223K and the unemployment rate continuing its downward trend, according to the Bureau of Labor Statistics (BLS).

While this December jobs report will not immediately lead the Fed to change course with its aggressive monetary policy tightening, Freddie Mac chief economist Sam Khater anticipates inflationary pressures to ease this year, ultimately leading to lower mortgage rates.

Furthermore, while Americans may still be anxious about the economy, a recent Federal Reserve Bank of New York survey shows there's reason for even more optimism. Americans have become increasingly confident in their financial situation in the upcoming year.

In fact, since last summer – when times were at an all-time low regarding income outlooks - optimism has soared, with over 15% more people having a more positive perspective on what's to come. 

Economists expect consumer and business spending to continue progressing in early 2023, helping to keep the economy out of a recession danger zone.