Mortgage Rates Higher After Jobs Report

Mortgage rates moved only moderately higher today after the Employment Situation report came out much stronger than expected. The all-important jobs data showed payroll growth of 242k in February compared to a median forecast of 190k. The unemployment rate held steady at 4.9 percent despite more people joining or re-entering the labor force. Economic data is one of the most important cues for the bond markets that underlie mortgage rates. Stronger data tends to put upward pressure on rates and today’s was no exception. That said, today’s movement wasn’t especially bigger than any other day spent moving higher over the past week. Indeed, rates were likely able to avoid a sharper move for prec…
Mortgage Rates Newsletter – Market Analysis

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