Reported 2 months ago
Mortgage rates experienced a significant decrease recently, primarily driven by a softening labor market, without any action from the Federal Reserve. However, mortgage spreads are improving, which may allow for further reductions in rates. Despite this decline, purchase application data remains inconsistent, and the housing inventory is increasing, providing some stability in the market. The trend in mortgage rates depends on continued economic softness, particularly around the 10-year yield, which could break lower if labor data trends persist.
Source: YAHOO