Mortgage Rates1 – This week was “jobs week” where we receive all the employment related reports highlighting job openings, transfers, hiring and unemployment. The three major reports, JOLTS (Job Openings and Labor Turnover Survey), ADP Employment and BLS jobs report...
Mortgage Rates1 – While rates ended in the same place they started, with the benchmark rate at 7.250% (APR 7.327%), it was not a smooth ride. Rates trended higher until the revised BLS numbers were released on Thursday showing job gains had been overstated over the...
Mortgage Rates1 – Unfortunately we lost ground this week and our benchmark rate climbed to 7.250% (APR 7.342%). There was not a lot of economic news to drive rates up; however, the few reports we did receive were not positive for mortgage rates. Retail sales in...
Mortgage Rates1 – We had a bit of rate relief this week and our benchmark rate dropped back into the sixes and is now at 6.999% (APR 7.082%). The primary market mover was last week’s BLS jobs report which came in weaker than estimates, signaling a bit of a softening...
Mortgage Rates1 – Rates ticked up again this week and our benchmark rate is up slightly from last week at 7.250% (APR 7.347%). It was another BLS jobs week (which hit expectations), and the ADP employment report for July came in much higher than expected at 324,000...
Mortgage Rates1 – Overall, rates moved up this week, climbing back into the 7%’s, even though our benchmark rate is only up slightly from last week to 7.000%. The big news of the week came from the Federal Reserve meeting where they decided to increase the Fed Funds...
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