--- title: Dark Clouds Helping Rates description: With signs of a recession looming in the months ahead and if inflation continues to decline, it could push home borrowing costs lower and buoy the spring buying season. image: https://info.carringtonmortgage.com/hubfs/IMAGES/Market%20Trends/Work%20Trends_2023.04.10.jpg --- [Skip to content](https://info.carringtonmortgage.com/knowledge-base/dark-clouds-helping-rates#main-content) ![bell icon](https://info.carringtonmortgage.com/hubfs/raw_assets/public/Templates/2022/svg/Alert-Notifications-Icon.svg) [![Carrington Mortgage Services](https://info.carringtonmortgage.com/hs-fs/hubfs/carrington_logo_final_2col_rgb.png?width=250&height=57&name=carrington_logo_final_2col_rgb.png)](https://www.carringtonmortgage.com) - [About Us](https://www.carringtonmortgage.com/our-mission) - [Careers](https://www.carringtonhc.com/careers) - [Investors](https://www.carringtonhc.com/investors) - [Contact Us](https://www.carringtonmortgage.com/contact-us) [Recent Transfer](https://www.carringtonmortgage.com/new-customers) [Customer Login](https://www.carringtonmortgage.com/login) MAKE HOME WORK Manage My Home arrow-down-anticon/submenu Manage My Mortgage arrow-down-anticon/submenu Learning Center MAKE HOME WORK Manage My Home arrow-down-anticon/submenu - I Am Ready to Start - [Buy a Home](https://www.carringtonmortgage.com/home-loans/buy-a-home/check-existing-customer) - [Refinance My Home](https://www.carringtonmortgage.com/home-loans/refinance-a-home/refinance-step) - What Loan Is Right For Me? 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Let's get into what happened and look into the week ahead. **Bad News is Good News for Rates** The JOLTS (Job Openings and Labor Turnover Survey) report, a leading indicator on the health of the labor market, showed signs of cooling. It revealed 9.8 million jobs available, 700k less than expected and the first reading under 10 million in three years. If you consider how the labor market works for example, first firms stop hiring, then they cut hours and then if conditions persist, they lay people off. So, this could be a sign to the Fed that the labor market is finally showing some signs of slowing down, which is what they want to help lower inflation. The good news? While the number of jobs available came in well below expectations, we are still seeing 1.6 jobs available for every person unemployed, which is indicative of a tight labor market. **Dimon Jawboning** Earlier last week, JPMorgan Chase CEO Jamie Dimon, shared his annual thoughts with shareholders. He stated that the problems in the banking sector are far from over and the chance of recession is elevated. Over the last several months, Mr. Dimon did suggest the economy was headed into an economic hurricane and then backed off that gloomy stance and suggested we might not see a recession. Now he is firmly back in the recession camp and upon his headlines, rates improved and stocks didn't. **Manufacturing is Not Manufacturing** The ISM Manufacturing index, which is a reading of our national manufacturing production, came in at 47. Readings beneath 50 suggest contraction or shrinking of production. This is not a good number and because bonds and rates like numbers that are not good, they rallied. **3.26%** During the week, the 10-year Note yield hit 3.26%, the lowest since September. Most importantly, as of press time, the 10-year yield fell well below its 200-day Moving Average. History has shown that when the 10-year moves convincingly beneath its 200-day Moving Average, it leads to better rates in the weeks and months ahead. **Bottom line:** *With signs of a recession looming in the months ahead and if inflation continues to decline, it could push home borrowing costs lower and buoy the spring buying season.* ## Related Articles [![](https://info.carringtonmortgage.com/hubfs/IMAGES/Market%20Trends/Work%20Trends_2023.01.23.jpeg)](https://info.carringtonmortgage.com/knowledge-base/bad-economic-news-is-bad-news) [Work Trends](https://info.carringtonmortgage.com/knowledge-base/tag/work-trends) ### [Bad Economic News is Bad News](https://info.carringtonmortgage.com/knowledge-base/bad-economic-news-is-bad-news) Last Week in Review:  Bad Economic News is Bad News Bad economic news helped home loan rates touch the lowest levels in months. Let's discuss what happened and see what... [CMS Marketing](https://info.carringtonmortgage.com/knowledge-base/author/cms-marketing) [Read More](https://info.carringtonmortgage.com/knowledge-base/bad-economic-news-is-bad-news) [![](https://info.carringtonmortgage.com/hubfs/IMAGES/Market%20Trends/Work%20Trends_2023-07-10.jpg)](https://info.carringtonmortgage.com/knowledge-base/good-economic-news-is-bad-news-for-rates) [Work Trends](https://info.carringtonmortgage.com/knowledge-base/tag/work-trends) ### [Good Economic News is Bad News for Rates](https://info.carringtonmortgage.com/knowledge-base/good-economic-news-is-bad-news-for-rates) Last week in Review: Good Economic News is Bad News for Rates [Read More](https://info.carringtonmortgage.com/knowledge-base/good-economic-news-is-bad-news-for-rates) ## Mortgage & Lending Services - [Buy a Home](https://www.carringtonmortgage.com/home-loans/buy-a-home) - [Refinance a Home](https://www.carringtonmortgage.com/home-loans/refinance-a-home) - [Mortgage Calculators](https://www.carringtonmortgage.com/tools/calculators) - [The Loan Process](https://www.carringtonmortgage.com/tools/loan-process) - [Find an Expert](https://www.carringtonmortgage.com/find-an-expert) - [Home Builders](https://www.carringtonmortgage.com/Partner-with-Us/home-builders) - [Real Estate Agents](https://www.carringtonmortgage.com/Partner-with-Us/real-estate-agents) ## Terms - [Privacy Policy](https://www.carringtonmortgage.com/legal/privacy-policy) - [California Consumer Privacy Act Notice](https://www.carringtonmortgage.com/legal/ccpa-notice) - [State Licensing](https://www.carringtonmortgage.com/legal/state-licensing) - [Terms and Conditions](https://www.carringtonmortgage.com/legal/terms-conditions) - [Best Practices](https://www.carringtonmortgage.com/legal/best-practices) - [Fair Lending Statement / HMDA Notice](https://www.carringtonmortgage.com/legal/fair-lending-statement) - [Consumer Fraud Alert](https://www.carringtonmortgage.com/legal/consumer-fraud-alert) - [Equal Opportunities](https://www.carringtonmortgage.com/legal/Equal-opportunities) ## Manage Your Mortgage - [Payment Options](https://www.carringtonmortgage.com/payment-options) - [Mortgage Assistance](https://www.carringtonmortgage.com/mortgage-assistance) - [Disaster Assistance](https://www.carringtonmortgage.com/disaster-assistance) - [Scheduling Servicing Fee](https://www.carringtonmortgage.com/schedule-of-fees) - [Payoff Statements](https://www.carringtonmortgage.com/payoff-statements) ## Contact Us - Current Customers ## About Us - [Our Mission](https://www.carringtonmortgage.com/our-mission) - [Foundation](https://www.carringtoncf.org) - [Holding Company](https://www.carringtonhc.com) - [Accessibility](https://www.carringtonmortgage.com/accessibility) - [Press and Media](https://www.carringtonmortgage.com/pressandmedia) - [Contact us](https://www.carringtonmortgage.com/contact-us) ## Get the App [![](https://info.carringtonmortgage.com/hs-fs/hubfs/raw_assets/public/Templates/2022/svg/Carrington-mobile-apple.jpg?width=135&height=42&name=Carrington-mobile-apple.jpg)](https://apps.apple.com/us/app/carrington-mobile/id1673471360) [![](https://info.carringtonmortgage.com/hs-fs/hubfs/raw_assets/public/Templates/2022/svg/White-Google-1.jpg?width=135&height=42&name=White-Google-1.jpg)](https://play.google.com/store/apps/details?id=com.carringtonms.CMSMobile2&pli=1) [Icon-Facebook](https://www.facebook.com/CarringtonHomeLoans/) [Icon-Twitter](https://twitter.com/CarringtonMS) [Icon-Linkedin](https://www.linkedin.com/company/carrington-mortgage-services-llc) [Icon-Instagram](https://www.instagram.com/carringtonmortgage/) Icon-EHO Consumer Access NMLS ID #2600 | Copyright 2026 Carrington Mortgage Services, LLC. 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