State of Rates — State of Rates

December 8, 2023

Latest Market Commentary.

Interest Rate Update: A Rollercoaster Ride in November- Rates Hovering Near 4-month Lows

What a ride it's been for interest rates this past month! After a sharp climb in September and October, where rates touched 8% or more, November flipped the script. We've witnessed an impressive turnaround, hitting 4-month lows and settling back in the low-mid 6s for many borrowers.

Market Spotlight: November Jobs Report

This week, all eyes were on the November jobs report, a key influencer in the market. Job growth, a barometer of economic strength, exceeded expectations with an addition of 199,000 jobs. While we observed a slight uptick in rates today, they continue to track towards those 4-month lows.

Looking Ahead: CPI and Fed Meeting on the Horizon

Get ready for next week's big event—the Consumer Price Index (CPI). If the numbers align with or fall below estimates, brace for a continued dip in rates. The CPI serves as a crucial indicator, impacting market sentiment and influencing the direction of interest rates.

On Wednesday, the Federal Reserve has their last meeting of the year- expect them to signal their intentions for policy in 2024 which will have ramifications on the rate market.

Stay tuned for more updates, and as always, feel free to reach out with any questions. Your trusted source for clear and concise interest rate insights!

Your Weekly Market Movers.

Wednesday Friday

CPI Meeting Fed Meeting & Interest Rate Decision

Should I Lock or Float?

While we are still biased towards locking at application, there are some great opportunities to float your rate in search of better rates. If you’re closing is 30 days or more out and you don’t mind gambling some you may consider watching how the market plays out over the next few weeks.