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Rate Update
KEY TAKEAWAY: Mortgage rates just hit their lowest levels since Fall 2024, thanks to a much weaker jobs report—but this week’s inflation data could change the game.
Last week, the jobs report shocked markets with only 22k new jobs vs. 75k expected and downward revisions to prior months. Bonds rallied quickly, sending mortgage rates down to 6.29%, levels we haven’t seen since last fall. The lack of volatility after the move was a welcome breather for markets.
This week is all about inflation and revisions. The Consumer Price Index (CPI) will be released along with annual jobs revisions, both of which can move markets in a big way. Jobless claims on Thursday will also be closely watched as the Fed weighs its September decision.
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Envoy mortgage, homes for sale, real estate, realtor broken arrow, realtor oklahoma
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