February 2023 Mortgage Rates Now Reach November Highs
February 2023 mortgage rates faced high levels of volatility, later reaching November 2022 highs after strong Employment data came out.
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.
As inflation surges to the highest level since 1982, the mortgage market left investors stunned after months of remaining on-edge.
This week, the key Employment report revealed enormous job gains for the United States labor market, leading to higher mortgage rates.