【Zillow】Mortgage Rates Drop Sharply After BLS Jobs Report

Mortgage rates dropped sharply after the Bureau of Labor Statistics’ August employment report, released on September 5, raised fears of a rapidly weakening labor market. Job growth slowed significantly, prior months’ gains were revised downward, and the unemployment rate held relatively stable only because people left the workforce. In anticipation that the Federal Reserve will cut interest rates aggressively in the coming months to support the economy, investors have driven mortgage rates lower.

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