Trump's tariffs, not jobs, are driving mortgage rates lower this week
Briefly

In March 2024, the U.S. added 228,000 jobs, surpassing expectations while the unemployment rate remained steady at 4.2%. Gains were prominent in healthcare, social assistance, and transportation, despite a decline in government employment and revisions totaling 48,000 jobs. Although the labor market is showing signs of softness, particularly in residential construction, it has not broken yet. On the economic front, escalating tariffs from China and Jerome Powell's cautious remarks regarding rate cuts underscore the current market volatility and the Fed's wait-and-see approach to the evolving economic landscape.
The March jobs report showed a rise in nonfarm payroll employment by 228,000, surpassing expectations despite a slight increase in the unemployment rate.
Federal government employment declined, but job gains were notable in healthcare, social assistance, and transportation sectors, reflecting resilience in the labor market.
Despite a negative revision of 48,000 jobs in earlier reports, the current labor market has not shown signs of breaking, though it is indeed softening.
Jerome Powell's comments reflected a cautious approach to potential Federal Reserve actions, focusing on observing the effects of tariffs on the economy.
Read at www.housingwire.com
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