After today’s JOLTS Job Report, rates have reacted positively!

all right big news from the latest jolts report today that has already impacted mortgage rates in a great way job openings are stuck at 8.2 million way below what analyst expected hiring slow for the third month and a row nonfarm payroll was expected to be 117,000 but only hit 114,000 the unemployment rate came in at 4.3% considerably more than the 4.1 that was that was forecast it with hires and separations barely moving the job market is cooling off way more than the FED anticipated this slowdown puts extra pressure on the FED to drop the Fed rate in September why because fewer job openings and steady separations mean that the labor market isn't as tight as it was If the Fed lets that continue they overshoot the runway as they try to soft land the economy all right what about mortgage rates check this out this is the mortgage back Securities charge which Drive mortgage rates today after the jobs report came out nbs's are going up and that's good it means mortgage rates are going down we are now at the lowest levels we've seen in 2024 finally now don't go to refinancing right away you do need to talk to your mortgage professional or me and establish where rates need to be for it to make good fiscal sense to refi but that may not be right now so check with them or check with me as I said keep watching I'll keep you updated