Mortgage Rates Hold Near Multi Month Lows; Potential Volatility Ahead

Mortgage Rates Hold Near Multi Month Lows; Potential Volatility Ahead

Mortgage rates put in a solid performance so far this week with substantial declines to the lowest levels in months as of yesterday afternoon.  Thursday was a bit different as the underlying bond market began to shift gears ahead of Friday's important jobs report. Officially known as "The Employment Situation," the jobs report is the single most important piece of scheduled economic data for interest rates on any given month.  During times of higher inflation, it can share the crown with the Consumer Price Index (CPI), but that typically just means we have two really important reports in close proximity (CPI is next Tuesday) rather than one dominating the other. Very simply put, if these two reports send a similar message to the data already out this week, it will coax rates to