Mortgage rates hit 5 month lows last week but quickly jumped to the highest levels in more than a month this week. While last week’s strong jobs report certainly served as a catalyst, there’s more to the story.
Source: Kevin Litwicki MBSLIVE Rates Played Chicken With The Fed (And Lost)
Today’s actual NFP number came in at a staggering 517k, thus edging out March 2022 to stand as the biggest deviation since August 2021. Rates didn’t like it.
Source: Kevin Litwicki MBSLIVE Wild Ride For Rates After Stunning Jobs Report