Messaging the Data
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Instant Reaction: Jobs, May 3, 2024
An economy that is too hot is not good for interest rates. Hence, the latest news of some cooling in the labor market could mean the topping-out of mortgage rates this week before more sustained declines through the remainder of this year. In April, the economy added 175,000 net new payroll jobs, on
Instant Reaction: Mortgage Rates, May 2, 2024
At 7.22%, the 30-year mortgage interest rate has hit its highest point since November 2023. Mortgage interest rates are unlikely to move down soon, especially in light of yesterday’s Federal Reserve announcement—the Fed funds rate is unaltered for the 6th meeting. The Fed is holding the line until i
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