America’s labor market gave the Federal Reserve another reason to hesitate, and the housing industry another reason to watch bond markets closely. Employers added 29,000 jobs in September, far below the 90,000 forecast in Reuters’ economist survey. Unemployment edged up to 4.2 percent from 4.1 percent, according to the Bureau of Labor Statistics report released October 2. For buyers and brokers waiting for borrowing costs to ease, the immediate reaction looked encouraging. The benchmark 10 year Treasury yield initially fell…
MarketNational
Just 29,000 Jobs: September’s Hiring Slump Eases Fed Hike Bets, but Housing Relief Remains Elusive
September's 29,000 new jobs eased Fed hike expectations, but the initial bond-market relief did not guarantee lower mortgage rates.
