Apr
13

Chicago Job Fairs Could Boost Local Economy

April 13, 2012

The country added about half the jobs last month that forecasters had predicted would be created, but hopefully some Chicago job fairs this month will turn that trend around.

One positive to the job crisis is low mortgage rates. So low, in fact, that a popular rate has achieved a fresh record.

The 15-year fixed rate mortgage (FRM) dropped to a new all-time low of 3.11 percent this week. The previous record low of 3.13 percent was seen last month.

dice with percent signs and darts stuck in it.The 30-year FRM, which hit its record low in February at 3.87 percent, dropped this week to just above that mark, at 3.88 percent.

Mortgage rates for the week ending April 12, according to Freddie Mac:

*30-year FRM: Averaged 3.88 percent, down from last week when it averaged 3.98 percent. Last year at this time, the 30-year FRM averaged 4.91 percent.

*15-year FRM: Averaged 3.11 percent, down from last week when it averaged 3.21 percent. A year ago at this time, the 15-year FRM averaged 4.13 percent.

*5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM): Averaged 2.85 percent, down from last week when it averaged 2.86 percent. A year ago, the 5-year ARM averaged 3.78 percent.

*1-year Treasury-indexed ARM: Averaged 2.80 percent, up from last week when it averaged 2.78 percent. At this time last year, the 1-year ARM averaged 3.25 percent.

“Fixed mortgage rates eased for the third consecutive week following long-term Treasury bond yields lower after a weaker than expected employment report for March,” said Frank Nothaft, vice president and chief economist for Freddie Mac.

“Although the unemployment rate fell to the lowest reading since January 2009, the overall economy added just 120,000 new jobs in March, nearly half that of the market consensus forecast.”

Chicago real estate owners and potential owners need jobs for the local housing industry to recover. Here is the lowdown on some job fairs taking place around the Chicago area throughout the month of April:

*Northwest Job Fair: Set for Monday, April 16 from 11 a.m. to 2 p.m. at Holiday Inn Rolling Meadows, 3405 Algonquin Rd., Rolling Meadows. Industries represented include: Accounting, Administrative, Marketing, Banking, Consumer Products, Customer Service, Economics, Financial Services, Hospitality/Tourism, Real Estate/Mortgage, Restaurant and Food Service, Sales and more.

*Chicago-Area Tech Job Fair: Set for Thursday, April 19 from 3 to 7 pm. at Synergy Computer Solutions, 4343 Commerce Court, Suite 109, Lisle. Positions available include: Architects, Administrative, Developers, Project Leads, Tech Leads, Project Managers and Business Analysts. For more information, call Karen Schmitz, Marketing Manager at Synergy Chicago-area office, at 630-922-5269 or email kschmitz@synergycom.com.

*Diversity Job Fair of Oak Brook: Set for Wednesday, April 25 from 10 a.m. to 1 p.m. at Embassy Suites, 707 E. Butterfield Road, Lombard. Recruiters looking for employees in many categories, including: Sales, Customer Service, Retail, Administration, Management, IT, Accounting, Finance, Government, Security, Insurance Brokers, Clerks, Financial Analysts, Insurance, Recruiting Coordinators, Direct Sales and more. Preregistration is recommended at catalystcareergroup.com.

*Diversity Job Fair of Chicago: Set for Thursday, April 26 and from 10 a.m. to 1 p.m. at Embassy Suites, 600 N. State Street, Chicago. Chicagoland’s finest employers will be recruiting for Sales, Customer Service, Retail, Administration, Management, IT, Accounting, Finance, Government, Security, Insurance Brokers, Clerks, Financial Analysts, Insurance, Recruiting Coordinators, Direct Sales and more. Preregistration is recommended at catalystcareergroup.com.

Categories: Economy, Featured, Mortgages

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