Posted To: Mortgage Rate Watch
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…(read more)
