Posted To: Mortgage Rate Watch
Mortgage rates fell appreciably today , this time at the fastest pace of the current winning streak. In fact, it was the biggest move lower since the March 18th FOMC Announcement when markets dialed back their expectations on the timing of the Fed’s rate hike. That’s a topic that continues to be a key consideration for the bond markets that dictate mortgage rates. Today’s economic data served as more anecdotal evidence suggesting a weaker jobs report on Friday. The jobs report (technically, the “Employment Situation,” but also referred to as Nonfarm Payrolls or NFP) is the most important piece of data when it comes to the economy’s influence on Fed policy. The past few reports have been much stronger than expected, and markets have responded by quickly ramping up expectations for a rate hike…(read more)
Via:: Mortgage Rates Head for 2-Month Lows
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