Mortgage Rates Barely Budge After Jobs Report

Mortgage rates were mostly unchanged today, though a few lenders were microscopically higher in cost . That’s an uncommon result for the day of the big jobs report release, but in today’s case it may be somewhat understandable. More often than not, the most important part of the Employment Situation data–at least as far as markets are concerned–is the top line job creation (aka ” nonfarm payrolls ” or simply, NFP). The median forecast for today’s NFP was 190k and actual job creation fell well short of that at 151k. Normally, that’s all bond/mortgage markets would need to know before moving toward lower rates, but there were caveats. The unemployment rate moved slightly lower than expected …
Mortgage Rates Newsletter – Market Analysis

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