Mortgage Rates Briefly Hit 3 Week Lows; More Volatility on The Way

Mortgage Rates Briefly Hit 3 Week Lows; More Volatility on The Way

There's likely no getting around that fact that mortgage rates will be moving noticeably--possibly substantially--in the coming days.  This is due to the arrival of two long-awaited economic reports.  Each has the power to push rates higher or lower on its own.  If they both happen to push in the same direction, the shift could be big. The first arrives tomorrow morning in the form of the big monthly jobs report (official name: The Employment Situation).  The median forecast sees 180k new payrolls for the month of April compared to 236k in March.  Other labor market anecdotes are actually almost unanimous in their suggestion for a higher number.  If it comes in much higher than expected, rates would almost certainly be moving higher. The second report--the Consumer Price Index (CP