Iran, Jobs, and Why Housing Is Winning!

The April jobs report came in at 115,000 — nearly double the estimate. But the BLS just revised February down by another 64,000, and the real story driving mortgage rates this week isn't the headline number at all.

In this week's market update, I break down what the labor data is actually telling us, why Iran is moving rates more than the jobs report, and why housing keeps holding up even as the labor market softens. Cotality is now projecting 5.1% home price growth over the next year! On a $500,000 home, that's $25,000 in equity built without lifting a finger. If you're a Realtor working with buyers on the fence, or a buyer trying to time the market, this is the context you need heading into next week.

Got a residential or commercial deal to run?

—— TIMESTAMPS: 0:00 – The April jobs surprise 0:14 – What's happening under the surface 1:00 – Jobs Data 1:18 – What is actually driving interest rates right now 1:56 -- Projection of Home Price Appreciation for the next 12 months 2:12 – Free 1-0 buydown for loans locked by June 30th