State of Rates — State of Rates

November 17, 2023

Latest Market Commentary.

The highly anticipated October Jobs Report is in, showing a modest 0.1% increase compared to the projected 0.3% rise. This slight miss had a noticeable impact on rates, pushing 30-year fixed rates up by nearly 0.25% for the week. This aligns with recent data indicating a slower increase in inflation and signaling potential economic slowdown.

With Thanksgiving just around the corner, and minimal economic news expected, we anticipate little movement in rates for the upcoming week.

At present, we're grateful for the recent trend in rates. There's a glimmer of hope that this positive momentum may continue, with the possibility of rates trending downwards as we approach the new year.

Stay tuned for more updates, and have a wonderful Thanksgiving!

Your Weekly Market Movers.

No major economic news.

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.