Mortgage rates will face big risks in the coming days

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Mortgage loan rates they had a few good weeks after the Fed hit them on June 16th. Said “blow” relativeto put it mildly. Rates have technically never gone beyond the lower 3% range, and they remain there now, albeit closer to 3.0 – especially for purchases. In fact, “low threes” possibly applies to most 2021 g.

Most likely, this will not change anything in the coming days, even if the risk of volatility is higher. IN the most obvious obstacle The cleanup will be tomorrow morning’s employment report – traditionally the most important piece of economic data for any month when it comes to interest rates. While we know the Fed expects data for several more months before making any major decisions on its interest rate favored policy, it is will not stop traders give up proactive action if they believe the data makes the Fed’s likely course of action more certain.

All that needs to be said: tomorrow is already more potential than on an average Friday to trigger a stronger-than-normal move in the bond market (and therefore mortgage rates). For the record, this movement could be in any direction, depending on the data. And even then there is no guarantee that this will happen!

The report will be released at 8:30 am ET.OK before the typical mortgage lender publishes their top-notch offer of the day.

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