The jobs market just face-planted. ADP showed a loss of 32,000 private-sector jobs in September – we were expecting a gain of 50,000. Last month’s numbers were revised lower by 57,000 too, and with the shutdown cancelling the Big Jobs Report, the Fed is now locked in for an October rate cut and likely another in December. What does that mean for mortgages? Falling rates… but for the wrong reason.
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Russell McDonald | NMLS 290837 | Broker CA DRE 01150730
Wymac Capital Inc | NMLS 18766 | Broker CA DRE 01121628
Real Estate Broker – CA Dept of Real Estate #shorts #jobs #federalreserve #economy