After a notable rise in the initial weeks of May, mortgage rates declined amid mixed economic signals and manufacturing contraction.
Labor market strength is at at the forefront of a week packed with major economic news, including daily volatility in mortgage markets.
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.
In a packed reporting week, the November 2022 Federal Reserve speech acknowledged lower inflation levels throughout the United States.
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.
In another extremely volatile week, the latest news saw mortgage rates hit 2007 highs as the UK passed new tax cuts.
Taking a look back at August 2022 mortgage rates, mortgage-backed securities continued to soar amongst stubbornly high inflation levels.