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Mortgage Rates at Recent Lows After Jobs Data; Price of TRID Errors

Mortgage Rates at Recent Lows After Jobs Data; Price of TRID Errors

Mortgage rates fell to their lowest levels in more than a week today, following the release of August's official employment figures. The previous sentence is absolutely the most interesting thing that could be said about today. In all other ways, it was a total flop compared to its potential. Reason being: the big jobs report (technically "The Employment Situation") was in a position to make a direct comment on the prospects for a Fed rate hike in 2 weeks. If investors thought a hike was more likely, rates could have moved quickly higher, or vice versa. As it happened, the employment data was tame--perhaps perfectly unoffensive to either sides of the argument about Fed rate hike timing. While the headline job creation was weaker than expected, several components of the report offset that weakness
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