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Louisville Kentucky Mortgage Rates.
Last week’s economic news includes several factors that drove U.S. mortgage rates lower.
The Bank of Japan announced that it would increase its purchase of bonds by $1.4 trillion over the next two years.
This news caused yields on Japanese bonds to fall, which made U.S. bonds more appealing to international investors, that in turn increased MBS prices and caused mortgage rates to fall.
Bumpy Employment Numbers Support Lower Interest Rates
Other significant economic news involves an unexpected drop in the number of new jobs created last month.
The Bureau of Labor Statistics (BLS) Nonfarm Payrolls Report issued Friday indicated that 88,000 jobs were added in March, which fell considerably short of the expected 190,000 jobs added as well as the 236,000 jobs added in February.
Average hourly earnings remained flat against February, which indicates another stall in U.S. economic growth.
Expanding employment sectors for March included professional and business…
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