Tomorrow the Bureau of Labor Statistics will be releasing February’s unemployment rate and nonfarm payroll. January’s report had an unemployment rate was 3.4% and 517,000 jobs were created. Traders are expecting the rate to stay at 3.4% and 215,000 new jobs created. Go to: https://www.johnmarbury.com/blog around 9am tomorrow to find out the results and market reaction.
Freddie Mac Commentary - Mortgage rates continue their upward trajectory as the Federal Reserve signals a more aggressive stance on monetary policy. Overall, consumers are spending in sectors that are not interest rate sensitive, such as travel and dining out. However, rate-sensitive sectors, such as housing, continue to be adversely affected. As a result, would-be homebuyers continue to face the compounding challenges of affordability and low inventory.
Below are the Historical Highs and Lows
On October 21, 1981 the survey said 18.39% on a 30-Yr FRM
On December 24, 2020 the survey said 2.66% on a 30-Yr FRM
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