Investors who fund most home loans are now convinced that the Federal Reserve won't cut rates again until June after employers add 256K jobs and unemployment falls to 4.1%
Rates have been in retreat as bond market investors who fund most mortgage loans react to the latest economic news and scaleback in 'quantitative tightening' by Fed policymakers
After picking up during the first 3 weeks of January, MBA lender surveys show applications for purchase loans are contracting, with mortgage rates no longer in free fall from 2023 highs
Mortgage rates are climbing back toward 2023 highs as more inflation data comes in hot, spurring fears of another Federal Reserve rate hike in November and 'higher for longer' policy
The Fed now has justification to keep a tight lid on interest rates. But some fear that if employers are forced to raise wages too quickly, that could spark inflationary pressures and spook bond investors