Mortgage Update

Friday’s Jobs Report that 168,000 jobs were created last month helped mortgage rates improve, since it was not as strong as expected. Also the labor force participation rate (how many people over 16 are working) fell to a 35-year low. 

Bottom Line for Mortgages

Rates continue to be “on-hold” until the Fed Open Market Committee Meeting next week. It’s anybody’s guess if they will begin “tapering” their bond-buying program this month, which has helped keep interest rates low since August, 2010.Image

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