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Mortgage Rates Surprisingly Resilient Despite Moving Slightly Higher After Jobs Report

Mortgage Rates Surprisingly Resilient Despite Moving Slightly Higher After Jobs Report

Heading into this week (and even throughout the entirety of last week) we were mostly focused on seeing today's jobs report for the next big dose of influence on the mortgage rate landscape. Unsurprisingly, a strong report resulted in higher rates, but not as high as we might have imagined. In fact, many borrowers will barely see a difference compared to yesterday's rate offerings with the average lender still in the low 7s for a flawless scenario. The jobs report showed moderately stronger job creation compared to the median forecast.  In addition, the unemployment rate came in at 3.7% versus 3.9% previously (also the forecast for today). Strong labor market data is bad for rates, all other things being equal, because a stronger economy runs the risk of higher inflation and infl
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