Bad Jobs Report, Good News For Homebuyers?
August 7, 2026 1:57Dan Ardis, NMLS# 1412272
Employers cut 23,000 jobs in July against expectations of an 80,000 gain, and May and June were revised down by a combined 103,000. In this week's update I break down what the weakening labor market means for mortgage rates, homebuyers, sellers, and real estate agents heading into the next Fed decision.
Key Points from This Video
- July jobs report and the negative payroll number
- The 103,000 job downward revision for May and June
- ADP private payrolls at just 44,000
- Job openings falling to 7.36 million
- ISM Services employment moving into contraction
- Low initial claims versus elevated continuing claims
- What a cooling labor market means for mortgage rates
- Why buyer leverage disappears the moment rates drop
- What agents should be telling buyers on the fence right now
Dan Ardis is a Bakersfield-based mortgage broker with 20+ years in the industry, including experience as a Senior Specialty Underwriter. He originates residential and commercial loans for Kern County clients and in 49 states through Barrett Financial Group.
Related Resources
More Videos from Dan
Why you should ask for a rate buydown
Why 7% mortgage rates aren't the end of the world
First Fed Hike in 3 Years, and It's Not the Last...
The hidden leverage you have as a buyer right now
Why Your Mortgage Payment Depends On This Report
Why You Shouldn't Wait For A Housing Crash
Questions After Watching?
Dan answers mortgage questions for Bakersfield buyers and investors. Call (661) 342-9381 or get pre-approved online.