This morning, at 8:30 AM ET, the Bureau of Labor Statistics released its Non-Farm Payrolls report for January 2011. Mortgage rates are rising in response.
For this month -- and for the rest of 2011-- employment data will figure big in mortgage markets and for home affordability. Last week's release is the first big splash.
According to the government, 95,000 jobs were lost in September. Economists expected a net loss of 5,000. Mortgage rates should improve on the data today.
According to the government, 431,000 jobs were created in May, but of those new jobs, 95.4 percent represented temporary staffing for the 2010 Census. Home affordability is improving on the report.