08/29/2022
๐ก ๐๐ผ๐ฟ ๐๐ต๐ฒ ๐๐ฒ๐ฒ๐ธ ๐ผ๐ณ ๐๐๐ด๐๐๐ ๐ฎ๐ต, ๐ฎ๐ฌ๐ฎ๐ฎ
๐ฅ๐ฒ๐ฐ๐ฎ๐ฝ ๐ผ๐ณ ๐น๐ฎ๐๐ ๐๐ฒ๐ฒ๐ธ: ๐ฅ๐ฎ๐๐ฒ๐ ๐บ๐ผ๐๐ฒ๐ฑ ๐ต๐ถ๐ด๐ต๐ฒ๐ฟ ๐
Average mortgage rates once again moved higher last week, although only slightly, as the PCE inflation data showed prices eased in July. However, comments by Fed Chair Jerome Powell from the Jackson Hole symposium pushed rates up a bit. Powell said the Fed will continue to raise policy rates to combat inflation, despite expectations that it will slow the economy and cause a recession.
๐ ๐ผ๐ฟ๐๐ด๐ฎ๐ด๐ฒ ๐ฅ๐ฎ๐๐ฒ ๐๐ผ๐ฟ๐ฒ๐ฐ๐ฎ๐๐: ๐ฅ๐ฎ๐๐ฒ๐ ๐ฐ๐ผ๐๐น๐ฑ ๐ถ๐บ๐ฝ๐ฟ๐ผ๐๐ฒ, ๐๐จ๐ง... โ ๏ธ
Mortgage rates could improve this week, as talk of a slowing economy and a falling stock market fuels fears of a coming recession. However, we could still be a week away from improvement if bond prices start to slip this week as investors panic, pressuring rates higher instead.
๐ช๐ต๐ฎ๐'๐ ๐ฎ๐ณ๐ณ๐ฒ๐ฐ๐๐ถ๐ป๐ด ๐ฟ๐ฎ๐๐ฒ๐ ๐๐ต๐ถ๐ ๐๐ฒ๐ฒ๐ธ:
- Economic data: The big report this week will be jobs data on Friday, which could cause rates to move. A strong report could hurt rates, while a weaker report will help. There are also some manufacturing reports and a consumer confidence reading that will have a much lesser effect on rates but will play a role.
- Labor Day: Markets will be closed on Monday, and markets will likely be quiet on Friday after the jobs data as investors take off for a long weekend.