Team Aalto at Advantage Mortgage NMLS 116708

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15/02/2025
28/10/2024

Good morning!
This week is going to be a big one as far as mortgage rates are concerned - it's completely packed with data that can (and will) influence mortgage rates moving forward.
The two biggest factors for these last couple years have been the job market and inflation. On August 2nd we saw the best rates of this year - largely due to negative job data released on that same day. When the FED lowered rates by a whopping 50 bps in mid September, it felt like things might finally be moving in the right direction.
Unfortunately, on October 4 we saw job data suggesting the job market was much stronger than expected and we have seen rates trend higher ever since, wiping out the gains we saw just a few weeks earlier.
Right now the market is in flux - will the FED make a 25 bps change to the Federal funds rate in November? Will we see any more rate changes by the FED this year?
Expect volatility this week. If you or someone you know has a mortgage in process and haven't locked in a rate, be aware that things may continue to get worse this week. Consumers need to gauge their risk tolerance. Floating in this environment is very risky.

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184 N Grant St

97013

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