Recent economic data released in the last week was actually stronger than expected. The economy added more jobs than forecasted causing the unemployment rate to decline to 8.8%, the lowest level we have seen since March 2009.
This is great news for the overall economy but can have a negative impact on mortgage rates. Stronger economic growth can create inflationary pressures which can send mortgage rates higer. The good news is that rates are still low, allowing people to buy that new house or refinance their current mortgage.
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