Only 41,000 new jobs from Private Sector

Click here for KSL's article

Looks like we'll have good mortgage rates for a while now that the numers show that of the 431,000 jobs last month but only 41,000 of those jobs were not government jobs. This shows that the economy isn't recover quite as fast as people would have hoped and investors are sticking to Mortgage Backed Securities again.

As a result, mortgage interest rates remain low at 4.5% for an FHA 30-yr Fixed Rate mortgage as of this morning.

One analyst from PIMCO said the US Economy is facing a "new normal" which means the recovery and economic future of the US will not rebound to the levels seen in the past 10 or 20 years.

We'll see what next months payroll shows.