Employment Report for March | Bond Closed +62bp | 30F 5.750%

Unemployment Rate | Reported 5.1% | Est 5.0% | Prior 4.8% | ELEVATED

Hourly Earnings | Reported 0.3%  | Est 0.3% | Prior 0.3% | ELEVATED

Average Work Week | Reported 33.8 | Est 33.7 | Prior 33.7 | ELEVATED

Non-Farm Payroll | Reported -80,000 | Est -40,000 | Prior -63,000 | ELEVATED

Grau Team Mortgage Wrap Up | 30F 6.375% 15F 5.750% 7/1A 5.375% [1%]

This has been quite a week for Mortgage Rates.  Monday-Thursday Mortgage Backed Securities dropped -272bp.  Each 40-50bp move is equivalent to .125% change in interest rates.  Rates raised almost .75% in 4 days!  Today we made up significant gains after the Employment Report showed Non-Farm Payrolls declined by -63,000.  We have strong rates going in to this weekend and look forward to next weeks Economic Reports.

RATES for FRIDAY MAR07 Read more

Employment Situation Summary or Employment Report

The Employment Situation Report is an ELEVATED mortgage rate mover.  The Employment Situation Report is tremendously important because Average Hourly Earnings, Average Work Week, Non-Farm Payrolls, and the Unemployment Rate Read more