General World News

Mortgage rates fall after softer labor data

Mortgage rates are finally headed lower after a crazy week of jobs data showing that the economy isn’t going into recession. Job growth is slowing as we get closer and closer to the target range of the make-up demand in labor, but it hasn’t broken yet.

What do I mean by a make-up demand in labor? Assuming we had no COVID-19 and the economy continued as it had been — which was running at the most prolonged economic and job expansion ever recorded in history — we would be between 157 million – 159 million jobs details ⇒

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