Rates Remain Fairly Flat Compared to Last Week
By Friday, there's a distinct possibility that you'll be tired of hearing different versions of the same story. The plot: last Friday's jobs report prevented rates from falling back into the mid-6% range, but wasn't enough to propel rates well into the 7% range. Without much by way of highly consequential data on the calendar, it makes sense that bigger movements might be on hold until next week's dynamic duo (Consumer Price Index and the Fed) takes the stage.
True to the plot, today saw very little change in the average 30yr fixed rate. That absence of change mirrors unchanged levels in the underlying bond market.
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