The latest economic data highlights the persistence of high inflation and a tight labor market, which has implications for June MBS (mortgage-backed securities).
Taking a look back at March 2023 mortgage rates, the big news of the month stemmed from the volatile banking sector.
February 2023 mortgage rates faced high levels of volatility, later reaching November 2022 highs after strong Employment data came out.
High inflation has investors mostly taking their cue from the Fed during a very light week for economic data
Labor market strength is at at the forefront of a week packed with major economic news, including daily volatility in mortgage markets.
After two years of exceptionally low mortgage rates, a major change took place in 2022 in relation to wage growth.
After months of upward momentum, July 2022 mortgage markets finally reflected reduced inflationary pressures.
Job Gains were better than predicted despite a consensus forecast of just 250,000, the economy added 372,000 jobs in June.
Rising inflation levels continued to induce massive daily market volatility for February 2022 mortgage rates.
As investors eagerly awaited the European Central Bank meeting, the latest decision on inflation came as a blindside.