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More Americans Are Working And Are Being Paid More To Work

March 9, 2007 by Scott Kinne

February Non-Farm Payrolls report showed strength

Mortgage rates are moving higher this morning after the 8:30 EST release of February’s jobs report.

The 97,000 new jobs created was in-line with the 95,000 expectation, but January’s numbers were revised higher by 35,000 to 146,000.

In addition, the report showed a slight drop in unemployment and an increase in average hourly earnings.

If we put it all together, it looks like this:

  1. More jobs created
  2. Fewer people leaving the workforce
  3. More income for everyone involved

Separately, these items often lead to higher levels of consumer spending. Together, they may be a lock.

More spending creates more growth and that is why mortgage rates are higher today.

Filed Under: Uncategorized

Scott Kinne

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Vice President, Senior Loan Officer
NMLS ID #182351
Office: 703.293.6146
Mobile: 571.237.6241
Fax: 571.317.2478
skinne@fhmtg.com

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