Archive for February, 2014

Why does the Non-Farm Payroll report affect mortgage rates?

On Friday, the Non-Farm Payroll report came in much weaker than expected (134k new jobs vs the estimates of 185k), and helped stabilize mortgage rates once again.  Have you ever wondered why a single report could have such a huge effect?

The non-farm payroll figure (a.k.a. NFP) represents the number of jobs added or lost in the economy over the last month, not including jobs relating to the farming industry. The farming industry is not included because its seasonal hiring distorts ...

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