Mortgage Rates Drop Despite Strong Jobs Report
2 November 2007
Rates are down today, despite stronger than expected Jobs data posted by the Labor Department. The rate drop is directly related to the large losses currently happening in the stock market.
October’s Employment data showed the addition of 166k jobs, which exceeded expectations by a great deal. The impact of this was softened by a downward revision to September’s job data, and smaller than expected earnings increases.
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