Summary
The latest U.S. jobs report showed a loss of 92,000 jobs in February, but mortgage rates are unlikely to decrease due to concerns about inflation caused by rising oil prices linked to the war in Iran. The Federal Reserve is not expected to cut interest rates in March, partly because of these inflation concerns, despite a softer job market.
Key Facts
- The U.S. lost 92,000 jobs in February, and the unemployment rate stayed at 4.4%.
- A conflict in Iran is causing oil prices to rise, affecting overall inflation.
- The war in Iran and rising oil prices prevent mortgage rates from dropping as expected.
- The Federal Reserve is not likely to cut interest rates soon, despite weaker job numbers.
- Mortgage rates rose to 6% nationally as of March 5, up slightly from the previous week.
- Some experts suggest waiting for more job and inflation data before the Fed changes interest rates.
