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VITEK Mortgage Group
Corporate Office

3 Parkcenter Drive
2nd Floor
Sacramento, Ca 95825
Toll Free: (800) 570-5300

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Customer Login - Coming soon!

You will be able to log in for up-to-the-minute updates on your loan in process and easily submit needed documentation to us to help ensure a faster transaction for you. This new state-of- the-art communication system will also support our efforts toward complete paperless transactions and helps us further our Think Green initiatives!

Industry News

Mortgage Industry News


Payroll Growth Below Expectations

09/01/2017

Treasury prices were mostly unchanged overnight as investors shrugged off better than expected PMI data from overseas in anticipation of today’s Employment Report. The results were on the softer side of expectations as headline Payroll growth of 156k was below expectations of 180k and the prior month’s levels were also revised lower. Meanwhile, the Unemployment Rate unexpectedly edged higher to 4.4% despite an unchanged Participation Rate of 62.9%. Lastly, Average Hourly Earnings dipped more than expected to +0.1% from +0.3% and versus forecasts of +0.2%. Treasury prices initially moved higher on the news however they have actually reversed course and headed into negative territory…puzzling. Today’s schedule still contains a handful noteworthy reports in the form of PMI Manufacturing Index at 9:45AM, followed by the ISM Manufacturing Index, Construction Spending and Consumer Sentiment at 10AM. Looking ahead to next week, the holiday shortened trading week looks benign with no significant reports scheduled. Currently, the 10yr yield is at 2.1369%.

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