Weak Jobs Report Unlikely to Push Mortgage Rates Down As Escalating Iran Conflict Muddies Outlook

The February jobs report is weaker than expected. The report shows that U.S. employers cut more jobs than anticipated last month, and unemployment rose–both signs of a shaky economy. While that would typically drive down mortgage rates, the evolving conflict in Iran is having the opposite effect. 

Takeaway: The surprisingly weak jobs report is stirring the pot this morning, but rates…