Mortgage rates were on track for a fairly uneventful week until Friday morning, when a speech from Fed Chair Kevin Warsh triggered a sharp bond market sell-off. The average top-tier 30yr fixed rate jumped to its highest level in just over 3 weeks.
Source: Kevin Litwicki MBSLIVE
Jackson Hole Jump For Mortgage Rates
Mountains vs Molehills: What Rates Really Cared About This Week
Source: Kevin Litwicki MBSLIVE
Mountains vs Molehills: What Rates Really Cared About This Week
Lowest Mortgage Rates in 4 Weeks After July's Inflation Data
Rates may still be elevated in a general sense, but by the end of the week, they were as low as they’ve been since July 17th. If we have one thing to thank, it was this week’s inflation data.
Source: Kevin Litwicki MBSLIVE
Lowest Mortgage Rates in 4 Weeks After July's Inflation Data
Lowest Rates in Weeks After Jobs Report and Oil Price Drop
Mortgage rates moved lower almost every day this week with most of the help coming from war-related headlines and a last minute boost from the jobs report.
Source: Kevin Litwicki MBSLIVE
Lowest Rates in Weeks After Jobs Report and Oil Price Drop