Massive Jump in Mortgage Rates After Jobs Report

Oct 4, 2024 · Today's much-anticipated jobs report ended up coming out much stronger than expected.&nbsp; A stronger result was all but guaranteed to cause carnage (relative) in …

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Mortgage Rates Jump Sharply Higher After Jobs Report

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4 days ago · The average top tier 30yr fixed rate was closer to 7.125% yesterday. After today's route, that rate is now almost perfectly centered on the 7.25% level (mortgage rates are …

mortgagenewsdaily.com

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30-Year Mortgage Rate Climbs To 6.93%, The Highest Since July

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5 days ago · He expects mortgage rates to end 2025 around 6.5 percent. The housing market has been stuck for years, with mortgage rates rising rapidly in 2022 and 2023, peaking close to 8 …

nytimes.com

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How Did Mortgage Rates React To The Jobs Report? - Rate News

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Dec 6, 2023 · Mortgage rates tick lower after jobs data. The national average for 30-year, fixed-rate mortgage ended down 0.03% to 7.08% today*.. The Job Openings and Labor Turnover …

rate.com

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Jobs Week Data Is Keeping Mortgage Rates Above 7%

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4 days ago · So, what does this mean for mortgage rates? We are getting closer to my peak forecast rate of 7.25%. Today’s mortgage pricing is 7.24% and the 10 year yield is at 4.76%.

housingwire.com

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Mortgage Rates Are Dropping Fast After A Shock Jobs Report Set Off …

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After former Fortune housing editor Lance Lambert, and co-founder of Resiclub, tweeted on Friday: "The average 30-year fixed U.S. mortgage rate falls to 7.36%. That's down 67 bps from …

yahoo.com

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How The U.S. Job Market Surge Could Impact Interest Rate Cuts

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2 days ago · Mortgage rates have risen for four consecutive weeks to reach the highest level since July. Average hourly wages rose 0.3% from November and 3.9% from a year earlier.

fastcompany.com

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Surging Job Market Could Prove Costly For Households, Businesses …

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5 days ago · Mortgage rates have risen for four consecutive weeks to reach the highest level since July. Average hourly wages rose 0.3% from November and 3.9% from a year earlier. …

apnews.com

FAQs about Massive Jump in Mortgage Rates After Jobs Report Coupon?

Will today's jobs report cause carnage in the mortgage market?

Today's much-anticipated jobs report ended up coming out much stronger than expected. A stronger result was all but guaranteed to cause carnage (relative) in the mortgage market and that's definitely what we're seeing. ...

Why have mortgage costs risen in recent years?

Mortgage costs have risen incrementally higher in recent years as the spread between the 30-year mortgage rate and the Treasury 10-year interest rate has widened. That’s according to research by the Brookings Institution. This spread has narrowed since widening in 2023. ...

Why is prepayment risk a problem for mortgage lenders?

Part of the reason for this appears to be the expectation that mortgage rates may decline in future and the associated uncertainty for long-term rates. This creates prepayment risk for mortgage lenders because today’s new mortgages may be refinanced at lower rates in subsequent years if interest rates decline as many expect. ...

Will rising mortgage rates push buyers and sellers off the sidelines?

Borrowing costs have been rising for months, tracking yields on government bonds. The move threatens to push more buyers and sellers to the sidelines. There was a moment in late September when mortgage rates, after a monthslong decline, appeared poised to drop low enough to bring would-be buyers and sellers off the sidelines. ...

How much have mortgage rates risen since July?

Mortgage rates have risen for four consecutive weeks to reach the highest level since July. Average hourly wages rose 0.3% from November and 3.9% from a year earlier. The year-over-year wage gain was slightly less than economists had forecast. ...

Are mortgage rates still lower than they were a month ago?

A caveat is that rates are still much lower than they were several months ago, but the average lender is now back in line with mid August levels. Additionally, this is one of the largest single day jumps we've seen with the average 30yr fixed rate moving from 6.26 to 6.53. ...