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The economy added 227,000 new jobs in February, according to a report released this morning. That's not bad but not as good as January, when 284,000 new jobs were added.
The unemployment rate held steady at 8.3 percent, which is the lowest level it has reached in three years. If you are one of the 12.8 million people out of work, these numbers serve as little consolation. Still, the steady job growth experienced in the last three months is a sign that the economy is strengthening.
Whenever investors perceive a stronger economy, they seek riskier investments and as a result, mortgage rates tend to rise for a few days.
That hasn’t happened yet and it may not happen this time, since the latest numbers were about what economists had expected.
If rates shoot up, which I doubt, I'll let you know.
In the meantime, you should follow me on Twitter @Polyanad
