The Non-Farm Payroll numbers came in on the 8th of this month, well above expectations with 204K versus an estimate of 125K new jobs. In addition, revisions added 60,000 more jobs to the prior two month
releases and thus mortgage rates took a significant one-day beating – noted by the long red column shown on the far right of this graph. Prices are now almost back where they were before that report was announced.
For those of you shopping for a good mortgage rate, who did not lock at the time, may have just gotten your reprieve!
The nation’s biggest banks have started to loosen mortgage lending guidelines. Is this another signal of an improving U.S. economy?
