Market Update: Rates Fall; Job Openings Coming Up This Week |
Abstract
Market Update: Rates Fall; Job Openings Coming Up This Week Blog posted On July 04, 2022 Last week, mortgage rates trended downward to reach their lowest level in over a week. Inflation is the enemy of bonds, and mortgage rates closely follow the bond market. The number of hires was largely unchanged at 6.6 million, as was the hires rate. The number of quits was little changed as well at 4.4 million, as was the quits rate. The JOLTS data and other employment reports scheduled for release this week will be critical in predicting the Federal Reserve's next move on the benchmark interest rate. If the data shows signs of a slowing labor economy, the Federal Reserve may be inclined to make a more conservative increase in the benchmark rate. No matter what comes next for rates, we have plenty of mortgage options to suit your needs - rate locks, temporary rate buydowns, and more.