An estimated 7.24M Americans were unemployed in May, as hiring by private employers slowed to slowest pace since October and the federal government continued to shrink its payroll
Heightened fears of a trade war and recession have investors convinced the Fed will start cutting rates again in June, a sentiment that gives mortgage rates more room to come down
Republicans are less worried about the future than Democrats and Independents, but 'consumers from all 3 political affiliations are in agreement that the outlook has weakened since February'
Mortgage rates eased Friday as investors took stock of new data showing employers added 151,000 workers to their payrolls in February and the unemployment rate ticked up to 4.1%
Investors who fund most home loans are now convinced that the Federal Reserve won't cut rates again until June after employers add 256K jobs and unemployment falls to 4.1%
Employers added 227,000 workers to their payrolls in November, but with 7.1 million Americans out of work, the unemployment rate is back up to 4.2%, the Bureau of Labor Statistics reports
Hurricanes and strikes were expected to dent job creation, and bond market investors are looking ahead to next week's election, Fed meeting and government bond auctions, analysts say
Mortgage rates inch up as an expected decline in key inflation gauge does little to change expectations for Fed rate cuts among investors who fund most home loans
Relief would be good news for would-be homebuyers, although purchase loan applications are still up 10% from a year ago as mortgage rates hit highest levels since July, MBA survey shows
Reports send mixed signals on the economy, with CPI showing prices rose more sharply than expected in September and jobless claims surging to highest level in more than a year
With a soft landing seen as more likely, analysts say Fed can be more cautious about the pace of future rate cuts and mortgage rates aren't likely to fall below 6% anytime soon
While many homeowners rushed to refinance, affordability is keeping a damper on sales. Now mortgage rates are climbing again, with investors having already priced in last week's Fed rate cut
August payroll report includes 'huge downward revisions' to previous estimates of June and July job growth, renewing recession worries and prospects for aggressive Fed rate cuts
Bond market investors who fund most mortgages are already certain the Fed will slash rates this month. The question has become how much will policymakers cut on Sept. 18, Nov. 7 and Dec. 18?
The big drop in mortgage rates did more to spur refinancing than homebuying, according to a weekly survey of lenders by the Mortgage Bankers Association, and now rates are rising again