Interest rates for real estate investors still look promising. Depending upon the type of property and down payment, 30 year fixed rates are still under 5.00 percent in many areas across the country and after today’s unemployment report was released, it looks like they’re to remain in this range for quite some time.low mortgage rates

The unemployment rate is a number that is typically released on the first Friday of each month, with data derived from a survey conducted the previous month. The Bureau of Labor Statistics keeps a revolving database of 60,000 households and rotates the survey each month with a bath of 15,000 homes. The survey finds out if all working eligible people living in the property are working and if so, how many hours per week. Anything more than 36 hours is considered full time employment.

There are others who are not employed but looking for work and can’t find it. The survey compares the number of eligible workers with those looking for work. A third category counts the number of people who have given up finding jobs and getting out of the work force altogether. These individuals are disregarded in the unemployment rate.

The September report was released three weeks late due to the partial government shutdown and while the rate did fall yet again, slightly so, to 7.2%, only 148,000 jobs were created. This is tepid at best and far below the number needed to get a stagnant economy moving again.

When you combine low job creation and an unemployment rate that is still stubbornly above the Fed target of 6.5 percent, the Fed’s hands are mostly tied. And speaking of the partial shutdown, economic numbers will be skewed for the next couple of months, even though the shutdown lasted only 11 business days. Until the Fed gets reliable data and the unemployment rate gets closer to 6.5 percent, interest rates could remain low even up to 2015.