Good Monday Morning! On Friday we received a strong March Jobs report with 916,000 new jobs created beating the market’s prediction of 647,000. In addition, the February Jobs number was revised higher by 89,000. Every sector of the US economy created new jobs led by leisure and hospitality with 280,000 new jobs. While our economy is strengthening each month and more and more Americans are returning to work, it is important to note that we are still 8.4M total jobs below our peak in February 2020.
Interest rates held steady despite the positive Jobs news. Mortgage bonds are trading in a pretty tight range for the last couple of weeks which has given us more rate stability than we saw in the first two months of this year. Have a great week!