Financial News Roundup: Investors Wait for Employment Data, Mortgage Rates Rise from Lowest Levels

Top Financial News Headlines from Around the Web

Today’s top headlines indicate the U.S. jobs market may be on its way toward recovery, though investors are hesitant to make major financial moves until the government releases November’s employment figures. Also, rates for 15-year and 30-year mortgages increased from last week.

Survey: 150,000 jobs added in November
Although many Americans continue to struggle with unemployment, new data suggests the jobs market may be turning around, according to CNN Money. Economists surveyed by the news source said they expect government data to show 150,000 jobs were added in November. Bernard Baumohl, the chief economist of the Economic Outlook Group, has higher expectations, saying the figure is closer to 235,000 jobs.

Stock market waits for employment numbers
Before the market opened on Friday, investors were singing a different tune than they had earlier in the week, CNN Money reports. Rather than purchase risky assets and various stocks, most investors showed caution as they waited for the government to release its November employment data. Peter Cardillo, chief market economist at Avalon Partners, told the news source that the job numbers would “direct the market’s movement today.”

Mortgage rates on the rise
Government-backed mortgage lender Freddie Mac released data on Thursday showing the average rate on 15-year fixed loans increased from 3.77 percent last week to 3.81 percent. Similarly, the average rate for 30-year loans rose from 4.40 percent to 4.46 percent. The rise in rates signifies growing confidence in the housing market.

New prepaid debit card offers major benefits
Smartypig.com recently unveiled its new prepaid debit card that offers consumers major cash back rewards in addition to low fees. The card, which initially will only be accepted at 9,000 local and regional retailers, will offer individuals up to 10 percent cash back on purchases, Credit.com reports.

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