And we have the Jobs Report, as expected, higher than estimated. So why are Bonds liking this news and giving us lower Mortgage rates? Mostly it is because of the Unemployment Rate moving up to 4.8% as the household survey saw losses upwards of 30,000 jobs, wow! So it is great jobs are coming, just disappointing so many are still without meaningful work or have given up.
Geoffrey Davis, the Frisco Mortgage Guy!