Employers added 353,000 workers to their payrolls in January, a "head scratching" blowout jobs report that kills prospects for a March rate cut "stone dead."
As the new year unfolds, the housing market is making headlines with a surge in mortgage applications, marking a 9.9% uptick from just a week ago despite a slight increase in mortgage interest rates. Insights from the Mortgage Bankers Association's (MBA) Weekly Mortgage Application Survey, adjusted for the New Year's holiday, reveal a promising start for the housing market. "Despite an uptick in mortgage rates to start 2024, applications increased after adjusting for the holiday," MBA Vice Presi
Demand for purchase loans still picked up last week as would-be homebuyers took advantage of rates that are still a full percentage point lower than 2023 highs.
Employers added 199,000 workers to their payrolls in November, a sign that the economy may achieve a soft landing but making Fed spring rate cuts less likely.