Mortgage Rates Sideways at Multi-Week Lows Ahead of Big Jobs Report
Today's mortgage rates remain at levels that are much higher than most of the past few decades, but refreshingly lower than most of the past 3 weeks. The average lender was just a hair higher, officially, but the average borrower will not see any difference in today's vs yesterday's rate quotes.
As for culprits behind the bigger picture surge and the smaller picture recovery, most of the measurable blame falls on data. Sure, we can talk about Fed stimulus and fiscal issues as root causes, but ultimately it's the measurable increase in inflation and the measurable resilience in the economy that is keeping rates high.
It's also been the measurable cooling in the same data that has allowed rates to ease off those highs in recent weeks. This began most noticeably with last week's P
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