Mortgage rates were higher again today, extending yesterday’s movement following the FOMC Minutes.
This morning’s Jobless Claims report showed a slightly higher number of initial unemployment filings, but rather than help push back against yesterday’s weakness, this did more to help rates level-off. Had the data been stronger than expected, the damage would have been worse.
Conventional 30yr Fixed quotes are most prevalent at 4.75% (no points) with 4.875% being the next closest level for ideal scenarios.
The world of interest rates is in a precarious position right now. Uncertainty and speculation are high. Staffing levels are low. News and events between now and Labor Day will move markets and cause ups and downs for rates, yet the news and events arriving after that are incontrovertibly more important.
Read full story here:
(It’s a good time to sell!)