The jobs report that came out this morning was expected to be bad but according to CNN-Money it was much worse than expected.  The reports have slid downward for the prior 3 months and this one was the worst in 4 years. 

Where's the Good News?

Well, the question is no longer will they or won't they drop rates at the upcoming Fed meeting in a couple of weeks.  The new question is how much .25 or now as low as .5? 

So mortage rates have a solid chance to get back into the 5's which is good news for the housing industry and first-time home buyer.  Don't watch the Headlines to close. There will be a market dip with some profit taking today and early Monday. But the view from here....we are headed in the right direction.