Last Week's Mortgage Rate Recap: Rates slightly worse 👎
Mortgage rates spiked early last week but mostly recovered, ending just a bit higher. Even though markets had some big headlines to chew on, like more trade talk drama and a couple shaky economic reports, it wasn’t enough to push rates meaningfully higher or lower.
This Week's Mortgage Rate Forecast: Rates could be volatile ⚠️
There’s a decent chance mortgage rates creep up this week. Markets will be uneasy heading into a heavy week of jobs data, plus ongoing concerns over inflation aren't going away. Rates aren't wildly swinging (yet), but depending on headlines we could see mortgage rates move either higher or lower.
What's affecting rates this week:
- Jobs Report: There are a few different jobs reports this week, but the big monthly BLS jobs data drops Friday. Strong hiring or rising wages could push rates higher, but signs of a cooling job market could help rates dip.
- Trade Tensions: Ongoing trade battles and geopolitical drama are keeping markets edgy and mortgage rates sensitive to every headline.
- Stagflation Worries: Tariffs are starting to drive prices up, raising fears of stagflation (higher inflation and a weaker economy), which would be bad news for mortgage rates.