Rates Edge Lower Ahead of the Holiday Weekend
What Did Rates Do This Week?
Mortgage rates decreased slightly this week following several key economic reports.
The latest jobs report showed the labor market remains resilient, while other economic data painted a mixed picture of the economy. Overall, bond markets held steady, allowing mortgage rates to improve modestly heading into the holiday weekend.
What to Look Forward to Next Week
Next week’s economic calendar is lighter, but markets will continue watching inflation trends, Federal Reserve commentary, and new economic data for clues about the direction of mortgage rates.
Even with fewer reports, market sentiment can shift quickly, so some rate volatility is still possible.
Lock or Float Bias
Current Lock/Float Bias: Neutral to Slight Float
With mortgage rates trending slightly lower, borrowers with longer closing timelines may consider floating. Those closing soon may prefer locking to protect against unexpected market changes.
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