Mortgage Market Update

This was a steady week in the market with little interest rates movement. However important data and Fed signals are now back in focus.

Here’s what that means for us this week:

  • The 10 year treasury held steady this week, staying around 4.13-4.15% range.
  • The Fed meeting minutes were released on November 19th and they revealed a divided committee ahead of the December meeting. Many favor holding interest rates steady and a few support another cut.
  • Starting today, delayed September labor and economic data will begin to roll out. Even though it’s late, it could still influence market expectations. The return of these reports may drive interest rate volatility depending on the way the numbers come in.

We’ll see what the Fed decides to do in December. The November jobs report will be delayed and won’t be available until after the December meeting. Right now the odds of a rate cut are low, but we’ll see what happens with inflation reports.

More to come as we see more data! For now, know that interest rates have been stable but we aren’t seeing much chance of rates dropping anytime soon – at least not by much. I would love to be wrong on this one though!! As I have said many times, if I knew what was going to happen with rates, I would be sitting on a beach somewhere!!

Leslie Vanderwerf,  NMLS ID#335509, CrossCountry Mortgage LLC, An Equal Housing Lender, NMLS#3029 – Email – Website

Written By

Currently a Senior Loan Officer at Cross Country Mortgage LLC, it's hard to believe I have been in the mortgage business for more than 25 years and have worked with Sharlene since 2000! I love sharing mortgage insights here each week and helping people finance their homes. Listening helps me find the right program for you!

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