Mortgage Market Update 5/3/19

Mortgage rates moved lower Friday following the release of key employment data for April.  The economy added 263,000 jobs last month, well above the consensus forecast of 190,000.  The unemployment rate fell to 3.6%, the lowest level since 1969.  Average hourly earnings rose 0.2% and were 3.2% higher than one year ago.  Stocks moved higher.  No other key data will be released today.

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