A softer jobs report just hit the wires—and it’s actually good news for homebuyers. Here are three key takeaways you should know:

1. The Economy Is Cooling

Job growth slowed more than expected, and previous months’ numbers were revised downward. This signals that the labor market is losing steam, which is exactly what the Federal Reserve wants to see in its fight against inflation.

2. Bonds Rally on Weak Job Data

Bonds tend to react positively to weaker job numbers because slower employment growth eases inflation pressures. That’s exactly what happened this morning—bond yields fell, and when bonds rally, mortgage rates follow suit.

3. Mortgage Rates Are Sliding Lower

Rates were already trending down earlier this week, but this report accelerates the move. Buyers now have more affordability than they did even a few weeks ago, which could make a big difference in their monthly payments.

Bottom Line

This is a golden window to re-engage buyers who pressed pause when rates were higher. Lower mortgage rates mean improved buying power—and potentially a chance for your clients to afford more home for the same budget.

If you’d like, I can run updated numbers so you can show your buyers what today’s rates mean for their purchasing power.