This past week was a classic placeholder for mortgage rates. Rates calmly drifted to longer-term lows. Next week will be completely different in terms of potential volatility.
Source: Kevin Litwicki MBSLIVE
Calm Before the Storm: Rates Drift to 11-Month Lows Ahead of Critical Jobs Report

Friday’s speech from Fed Chair Powell marked a small but important shift in the Fed’s outlook. It was enough for markets to increase bets on a September cut, thus pushing mortgage rates sharply lower.
Source: Kevin Litwicki MBSLIVE
Powell's Speech Greased The Skids For Rates to Slide to 2025 Lows

Mortgage rates fell in concert with increased odds for a Fed rate cut. But it’s critical to remember that an actual Fed rate cut WOULD NOT guarantee further improvement in mortgage rates unless the economic data keeps supporting the case for more cuts ahead.
Source: Kevin Litwicki MBSLIVE
Mortgage Rates Hit 10-Month Lows — Here’s Why a Fed Cut Might Not Help

Last Friday’s jobs report sparked a big rally in the bond market, and thus a big improvement for mortgage rates. This week was very light in terms of market data and volatility, but it helped solidify the improvement from the jobs report.
Source: Kevin Litwicki MBSLIVE
Calmly Holding the Lowest Rates Since October, But for How Long?

Last week, we said all bets were off until we saw Friday’s jobs report—and that no other piece of economic data moves mortgage rates more reliably. This week proved why that warning is always worth repeating.
Source: Kevin Litwicki MBSLIVE
The Jobs Report Was a Mess—Mortgage Rates Loved It