Mortgage Rates Drop as Job Market Cools in the US
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#fd4fc180 ver:0.71

Mortgage rates in the US drop as job market cools, with the average 30-year fixed rate at 6.97%. However, rates have climbed for a fourth consecutive week, reaching 7.17%, making it challenging for homebuyers. Despite this, homebuilders are increasing production and offering incentives to address the inventory shortage. Higher rates have created a divide between the resale and new-home markets. Prospective buyers are waiting for rate cuts, with 71% planning to pull money from their 401(k) savings plan. Private businesses hired 192,000 jobs in April, exceeding expectations, but mortgage demand fell due to rising rates. #MortgageRates #JobMarket #Homebuyers...

#newstr #MortgageRates #JobMarket #FederalReserve #UnemploymentRate #RateCut 

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