AgentIndustry News

Mortgage rates hold against weak labor report

Concerns over insufficient tax revenue appear on political horizon
Published on Feb 6, 2004

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by CareyBot

New hiring in January was a disappointment; not enough to pull mortgage rates down from 5.75 percent, but enough to buy another month of Fed patience.

Today's report was, if anything, more disappointing than the news of a net gain of 125,000 jobs, barely half the hopeful forecasts. The key number: wages in January grew by only .1 percent.

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