What Did Rates Do This Week?
Mortgage rates edged slightly lower this week, but overall movement was limited. Economic data—including the latest jobs report and other scheduled releases—came in largely as expected, which kept the mortgage rate market relatively calm. When reports don’t bring surprises, rates tend to drift rather than make big moves, and that’s exactly what we saw. For buyers and sellers, this meant stable borrowing conditions and no major shifts in affordability.
What to Look Forward to Next Week
With Christmas next week, the market is expected to slow down even further. Fewer economic reports are scheduled, and many traders and lenders will be out of the office, which typically leads to quieter mortgage rate activity. While small day-to-day changes can still happen, big swings are unlikely unless unexpected news breaks. Holiday weeks often favor consistency, which can be helpful for buyers trying to plan and for realtors managing active transactions.
Lock or Float Bias
The current bias leans slightly toward locking, especially for buyers under contract or those closing soon. With rates already near recent lows and holiday-thin markets ahead, there’s limited upside but still some risk if markets react to unexpected news. For buyers with longer timelines, floating may still make sense, but setting clear thresholds is important. Overall, this is a stable environment that rewards planning over speculation.
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