Job Gains were better than predicted despite a consensus forecast of just 250,000, the economy added 372,000 jobs in June.
Although the latest core PCE met expectations, investors grow increasingly concerned with slowing global economic growth.
As expected the Fed announced a rate hike this week in their latest step to combat inflation while Employment neared its consensus.
While mortgage markets stay volatile, the unemployment rate fell to the lowest level since early 2020 as inflation came in on target.
Last month, January 2022 mortgage rates achieved their highest levels since early 2020 as investors again saw record-setting inflation.
With the U.S. facing a tight labor market, record-setting inflation, and supply chain issues, December 2021 mortgage markets fluctuated.
As holiday consumer spending surges, the Federal Reserve plans adjustments for the recent colossal inflation, hitting a 30-year high.
In light of breaking news, the investors are ready for the Fed tapering bond purchasing. This past week saw enormous daily volatility in mortgage-backed securities markets.
This past week saw solid job gains amidst a packed week for mortgage markets, highlighted by key labor market data and a Fed meeting.