What Did Rates Do This Week?
This week The market was calm, and economic data came in close to expectations resulting in mortgage rates edging down slightly. The government also officially reopened after the temporary shutdown, which helped ease some uncertainty in the financial markets. While it didn’t cause a big rate swing, it did help stabilize sentiment.
What to Look Forward to Next Week
Next week’s mortgage rate movement will depend heavily on incoming economic reports, especially inflation and consumer spending data. These indicators influence how investors view the broader economy, which directly impacts mortgage rate trends. With the government back open, agencies can resume releasing delayed data, giving the market clearer direction. Any surprises in those reports could cause rates to move.
Lock or Float Bias
With rates holding steady and only a small improvement this week, the overall bias is neutral to slightly lock-leaning. Buyers under contract may want to lock for peace of mind, especially now that market data will start flowing again post-shutdown. Buyers still searching may choose to float a little longer since there’s no strong pressure pushing rates sharply higher — but staying aware of next week’s reports is key.
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