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Businesses Are Hiring Like Crazy--Which Means More People Are Now Looking for Jobs

U.S. employers went on a hiring binge in February, adding 313,000 jobs, the most in any month since July 2016, and drawing hundreds of thousands of people into the job market .

At the same time, average wages rose 2.6 percent over the past 12 months, a slowdown from January's accelerated pace, which had spooked investors because it raised fears of high inflation. Friday's jobs report from the government revised down January's year-over-year wage gain by one-tenth of a point to 2.8 percent.

An influx of new job seekers in February kept the unemployment rate unchanged at a low 4.1 percent.

News of the unexpectedly robust job growth sent stock futures up after the report was released at 8:30 a.m. Eastern time.

Last month's hiring surge might have reflected, in part, confidence among some businesses that the Trump administration's tax cuts will accelerate consumer and business spending. Consumer optimism jumped to its highest level since 2000 last month, likely reflecting higher after-tax incomes resulting from the tax cuts.

Mortgage rates hit a more than 4-year high as investors brace for a more hawkish Fed

 . Bond yields rise as prices decline.

And testimony from the new Federal Reserve chair, Jerome Powell, only accelerated the bond selloff. In a session with the House of Representatives, Powell was more hawkish than most analysts had expected, and more investors now expect the central bank to hike rates four times this year, rather than just three.

Read : Powell may ‘dial back’ his hawkish talk — analysts brace for Fed chief’s Senate debut

Yet housing demand is hanging tough. Data from the Mortgage Bankers Association shows that applications for mortgages to purchase a home are 6.7% higher for the first eight weeks of 2018 compared with the same period a year ago. Even applications to refinance have hung in: They were higher than last year every week up until the second half of February.

Higher mortgage rates always take a toll on the market, Freddie noted in a research note earlier in February. Americans take out fewer mortgages, home sales sink, and builders break ground on fewer homes.

does anyone know how a accelerated home loan mortgage work?

Instead of making a payment monthly, some plans will set it up to pull 1/2 of your payment every other week.