Moore Mortgage Solutions

    Today, the Labor Department released October’s employment numbers. New jobs doubled exceeding the forecast of 80,000. This would normally put pressure on the bond market as more jobs means more people working therefore more money potentially to spend in the economy.

    But other factors like the September revision of new jobs were revised down as well as the average hourly earnings for September and October were less than expected.

    To top this all off, the unemployment rate stayed at 4.7% as it was expected.

    With these numbers, economic analysts aren’t anticipating another Fed Fund rate cut for the remainder of this year.

    What does all this mean? The bond market today is experiencing increases. And when the bond market goes up, mortgage interest rates start to float down.

Next week will be on the light side of economic reports coming out.

I will start posting articles about credit, how to prepare for an emergency, and other helpful topics so stay tuned.

Until next time, make every day an inspired one!

Betsy Moore

betsy@mooremortgagesolutions.com