Jobs Report: Mortgage Bonds & 10 year Treasury are Improving

Jobs Report: Mortgage Bonds & 10 year Treasury are Improving

Friday 3/10/23

 

7:40 AM : The BLS Jobs report showed that there was an increase of 311,000 jobs in the month of February, which was above expectations of 205,000. Employment gains in December and January were revised lower by a combined 34,000. The unemployment rate increased 0.2% to 3.6%, which was above estimates of 3.4%. Average weekly earnings are down 0.05% for the month and up 4% year over year.

8:44 Mortgage Bonds are improving on the BLS Jobs Report.  The 10 year treasury that somewhat follows mortgage rates is down 19 basis points to 3.727%.  Recently this rate was 4.05%.  Hopefully this is good news for rates in the future.

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