Weekly Newsletter

Last week's newsletter closed with: "If anything on Fed day ends up having an impact on mortgage rates, it would have to be changes in the Fed's rate outlook and/or comments from Fed Chair Powell during the press conference that follows the rate announcement." There were certainly some changes!

Back in September, we spent several weeks warning about the possibility that mortgage rates could rise even as people were waiting for the Fed to cut. This time around, the set-up is a bit different, but caveats remain.

As of last week, rates were showing some signs of resilience, but they had to wait for the true test from this week's jobs report. Spoiler alert: they passed the test.

After embarking on a volatile journey in early October, the past 2 weeks have been calmer for mortgage rates, but this is best viewed as the calm before the storm.

Mortgage rates bounced hard off the long term lows back in September and had jumped almost a full percent by last week. In addition to the elevated levels, there's been plenty of volatility as well. Despite ongoing volatility, rates managed to avoid breaking last week's ceiling--even if only just. Does that mean it's time for […]