Posted To: MBS Commentary

Last month's jobs report shattered records, both for the outright level of job creation (2.509m) and for the gap between job growth and forecasts. In fact, we won't likely see a gap that big, ever. We may, however, see a bigger month of job creation, and if economic forecasters are right, we'll see it this morning. The consensus calls for a payroll increase of 3.0 million. Even if that happens, it remains to be seen how willing the market is to react to such things. Last month's labor market numbers arrived at time when the market was more susceptible to second guessing the current ultra-low rate environment. Covid cases hadn't really begun their recently troublesome spikes in several states. And other economic data that week made it look like the economy may indeed have…(read more)

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Source: Mortgage News Daily