When everyone and their brother tells you that daylight savings time is coming this weekend as if I haven’t heard it from a thousand other people. So, I decided I am not going to tell you that daylight savings time is this weekend.

Now that my rant is over…  Great news for rates, in fact one of the larger moves this year despite the hot jobs market. The February report shows 311k new jobs, but unemployment rose to 3.6%. We expected it to be unchanged.

There is still a strong leisure and hospitality component to that number, in fact retail and healthcare rounded out the top three jobs’ numbers.

Employers had 10.8 million open jobs in January. December had 11.2 million. These totals are almost double the number of unemployed people seeking work.

Elevated wage growth is a sign the economy is still overheated. This is a challenge for the Fed. As wages increase so does the employers’ products.

Get out there and start looking at homes and contact your lender or me. Rate improvement translates to more qualified borrowers and price points.

YouTube link to useful short videos regarding qualifying for a mortgage and the process.