Non-Farm Payrolls hits the wires Friday at 8:30 AM ET. Markets are expecting a 75,000 net loss of jobs last month. If the actual number is higher, mortgage rates should rise. If the actual number is lower, mortgage rates should fall.
Tag Archive | "Non-Farms Payroll"
At first glance, the June jobs report looks weak but a deeper look shows something different.
Market momentum is currently in the rate shoppers’ favor. We entered the weekend with rates falling and they look poised to open Monday no worse.
According to the government, 431,000 jobs were created in May, but of those new jobs, 95.4 percent represented temporary staffing for the 2010 Census. Home affordability is improving on the report.
Conforming and FHA mortgage rates rose for the first time in 5 weeks last week, pulling mortgage pricing off its best levels of the year.
