Alongside a wide range of major economic news, another Fed rate hike created a volatile week for mortgage markets.
February 2023 mortgage rates faced high levels of volatility, later reaching November 2022 highs after strong Employment data came out.
After 2022 demonstrated recent record highs, the new year kicked off with lower January 2023 mortgage rates.
After two years of exceptionally low mortgage rates, a major change took place in 2022 in relation to wage growth.
Heading into the December 2022 mortgage markets, investors widely expected the Federal Reserve to increase interest rates by 50 basis points.
In a packed reporting week, the November 2022 Federal Reserve speech acknowledged lower inflation levels throughout the United States.
After a long year of rising inflationary pressures, November 2022 markets now highlight change of pace heading into 2023.
After the November 2022 Fed meeting, investors raised their outlook for monetary policy tightening heading into 2023.
This week, the highly anticipated labor market data came out, highlighted with the surprising drop in the August 2022 unemployment rate.