Last week’s jobs report disappointed markets after it revealed that only 113,000 jobs were added in January. The December jobs report was also revised upward by a paltry 1,000 jobs. The Labor Force Participation Rate continues to remain at historic lows, which should be moving higher in a recovery.
Bottom Line for Mortgages:
Mortgage rates did improve on the weak jobs news. With the recent trend of disappointing economic reports, everyone will be focused on what the Fed decides to do at their next meeting on March 18-19th.
Mortgage rates are still near historic lows as we start the week.