Why Your Mortgage Payment Depends On This Report

The August jobs report came in at nearly triple what economists expected, and the labor market still might be the weakest we have seen in years. Both things are true. Here is what it means for your mortgage payment.

In this week's update:

The Bureau of Labor Statistics reported 162,000 jobs added in August with unemployment holding at 4.1% ADP estimated just 38,000 private sector jobs, the slowest pace since January Revelio Labs came in at 36,500 Healthcare accounted for a large share of the gains, reflecting an aging population more than broad hiring strength Job openings totaled 7.27 million in July, with June revised significantly lower Initial claims stay low, meaning layoffs are limited Continuing claims stay elevated, meaning re-employment is taking longer August CPI releases September 11, ahead of the Fed's September 15-16 meeting

The August jobs report is out, but is the labor market actually weakening?

While headline numbers beat expectations, we break down why the underlying data suggests caution for anyone watching mortgage rates. I also share a specific float-down strategy to help you navigate the upcoming Federal Reserve meeting.