The Non-Farm Payroll Doomsday Scenario Became Reality

After the Phillies dropped the first two at home, I should have known that this would happen, too. Not only did September's job data exceed expectations, but August's net loss of 4,000 jobs was revised higher to a net gain of 89,000. That's a bigger swing than Montpelier. Mortgage rates are getting bludgeoned this morning as traders: Shift their expectations for the Fed's next meeting Question whether the Fed acted to quickly to lower the FFR last month Me, I...

Read More...

[Source: The Mortgage Reports Blog]