Mortgage Market News

The Bureau of Labor Statistics reported today the on the last day of March, there were 4.994 million job openings across the nation, down from 5.1 million in February, according to its Job Opening and Labor Turnover Survey (JOLTS) data. Within the report it also showed that voluntary quits rose to 2.8 million from 2.7 million in February as workers are more likely to quit their job due to the greater ease of finding something different. The report tracks millions of Americans each month who are laid off, quit or start on new job each month.
The National Federation of Independent Business (NFIB) reports that small business sentiment rose to 96.9 in April after a difficult March, but below the 98 posted in February. However, there was not an especially large gain in any of the components, except for an improvement in profit trends. In addition, small business owners are still somewhat cautious over future sales. ÔÇťOverall, the Index remains steady, but it is still a few points below the average and is showing no tendency to break out into a stronger pattern of economic growth," said Bill Dunkelberg, NFIB Chief Economist.
The highest dollar amount paid for a painting took place yesterday in New York's Christies when Pablo Picasso's "Les Femmes d'Algers (Women of Algiers) sold for a record $179 million to an anonymous buyer. The bidding for the 1955 painting began at $100 million as Christies received over 30 bids in increments of $1 million. The painting last sold for $31.9 million back in 1997. Owning works of art has truly become a hard asset, along with real estate or rare cars.
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