Big news today about the unemployment rate dropping to 8.3%. The economy added 243,000 jobs in January and made the unemployment rate dropped to its lowest level since February 2009.
The Labor Department said large gains in professional and business services, leisure and hospitality, and manufacturing jobs drove the gains, which came in well above most analysts' estimates. The rate in December was 8.5%
Will the drop in the unemployment rate increase the amount of mortgage applications? Does this mean that consumer confidence may go up? There are always questions when it comes to our struggling economy. And hopefully we are on our way to an upward climb. This may just be the start to getting the consumer confidence we need to jump start everything, including the mortgage industry.
Let's hear your thoughts on how this may affect the economy, consumer confidence and the mortgage industry.