This morning the Bureau of Labor Statistics released the April 2026 Employment Situation report, and the numbers tell an encouraging story for anyone thinking about buying a home.

The U.S. economy added 115,000 nonfarm payroll jobs in April — well above the 55,000 economists had forecast — while the unemployment rate held steady at 4.3%. That is not a flashy headline number, but in today’s environment it is exactly what the housing market needs to see.

Healthcare led job creation with 37,000 new positions, followed by transportation and warehousing and retail trade. These are the kinds of stable, income-generating jobs that support mortgage qualifying. Average hourly earnings rose 3.6% year-over-year, which means workers are maintaining purchasing power — another green light for buyers sitting on the fence.

What This Means If You Are Buying in Minnesota

A steady labor market in Minnesota — particularly in the Twin Cities metro — supports home values and keeps buyer demand consistent. If you have been pre-approved and waiting for the “right moment,” a jobs report that beats expectations is a signal that lenders will continue to feel comfortable with the current rate environment. Today is a good day to revisit your purchase timeline.

I also want to say a sincere thank you to my Minnesota clients. Starting today I am personally reaching out to ask for Google reviews, because your experience working with me is the best way for future buyers in Edina, Minneapolis, and the Twin Cities to find a trusted mortgage professional. If you have worked with me and would like to share your experience, I would be genuinely grateful.

What This Means If You Are Buying in Arizona

I am back in Arizona this week, and the Phoenix market continues to attract buyers from across the country. The Federal Reserve held the federal funds rate steady at 3.50% to 3.75% at its April meeting, which means mortgage rates are not moving dramatically in either direction right now. For buyers in the Scottsdale and Phoenix metro areas, that stability creates a window worth taking seriously.

A jobs market that keeps outperforming expectations also reduces the likelihood of sudden rate cuts driven by recession fear — which means waiting for dramatically lower rates may not be the winning strategy.

The Bottom Line

Whether you are buying in Minnesota or Arizona, the fundamentals right now favor action over waiting. Employment is stable, wages are growing, and rates are holding. The biggest variable is not the economy — it is your personal readiness.

If you have questions about what you qualify for in either state, I am happy to have that conversation. Reach out directly at markmerry.com.

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Mark Merry is a mortgage professional with Granite Bank, licensed to originate loans in Minnesota and Arizona. This post is for informational purposes only and does not constitute a commitment to lend. Loan approval is subject to credit and underwriting guidelines. Programs, rates, and terms are subject to change without notice.

About the Author

Mark Merry is a licensed mortgage advisor at Granite Bank (NMLS #452552) with more than 30 years of experience in home financing. He serves buyers and homeowners in Scottsdale, AZ and the Twin Cities, MN — and is licensed in all 50 states. Learn more about Mark →