Friday, March 4, 2022

Daily Market Report 3/4/22  Today, we receive the Jobs data from the Bureau of Labor Statistics (BLS), which is the data we've been waiting on.  We'll start with the Average Work Week for February, which rose by 0.1 hrs to 34.7 hrs.  Average Earnings remained Unchanged for February, which is good news for our inflation data.  The Unemployment Rate dropped from 4.0% in January to 3.8% in February.  Lastly, there were 678k new jobs created in February.  Even though, we got great economic data, Stocks are Down on the latest from Ukraine, as it was being reported that a large Nuclear reactor was on fire.  The concerns are obvious!  Again, there is a "flight to safety", which is benefitting MBS, which is currently Up 31bps.  However, it's off from it's earlier highs.  Pricing for Mortgage Rates are better compared to yesterday's close.  We could see some price changes for the worse, as we are off from our highs to a level that may push Lenders to act; but the pricing will still be better than yesterday's close.  Yields have slid all the way down to 1.74% now.

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Also, these videos are base on my views and not represented by any other entity, but my own.  I work as a Loan Officer, and if you'd like information on Mortgages, or how I can assist you, then please direct message me.

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