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Mortgage Rates Face Bigger Risks in The Coming Days

Mortgage rates have had several good weeks now after being dealt a blow by the Fed announcement on June 16th.  Said “blow” is relative, to say the least.  Rates technically never departed the lower 3% range, and they remain there now, albeit closer to 3.0–especially for purchases.  In fact, “low 3’s” arguably applied to most of 2021.  
Nothing about the coming days is likely to change that, even if the risk of volatility will be higher.  The most obvious hurdle to clear will be tomorrow morning’s jobs report–traditionally the most important piece of economic data on any given month as far as interest rates are concerned.  While we know the Fed is waiting for several more months of data before making any big decisions on its rate-friendly policies, that won’t stop traders from moving preemptively if they think the data makes the Fed’s likely course of action more certain….(read more)Forward this article via email:  Send a copy of this story to someone you know that may want to read it.
Source: mortgagenewsdaily.comNew feed

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