A Jobs Report This Strong Usually Does Much More Damage to Mortgage Rates

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Posted To: Mortgage Rate Watch

Mortgage rates were pushed higher for the 3rd day in a row following an incredibly strong jobs report. For decades, if you were to ask anyone with a reasonable level of experience following rates/bonds to pick one economic report that bonds care about more than all others, the jobs report would basically be the only answer. There isn’t even a close second. In fact, as far as economic data goes, the jobs report is still at the top of the heap. That said, it’s typical impact has been lessened for two reasons. First off, ALL economic data is being taken with a grain of salt because traders assume things will change in some unforeseeable way after the US/China trade negotiations run their course. Additionally, the jobs market has simply been very strong for a very long time , so unless it begins…(read more)

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