August jobs report out this morning: Good news for mortgage interest rates……..The economy added 169,000 jobs last month, fewer than the 185,000 economists were forecasting. The unemployment rate ticked lower to 7.3%, as expected, but the drop was due a falling labor force participation rate. Job gains for both June and July were also revised lower. Investors now seem to think that the Federal Reserve may hold off on plans to start trimming its bond buying program later this month.
Posted on: Fri, 06 Sep 2013 13:33:15 +0000
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