Rates trended higher again this past week despite lower than projected job creation. The August report was interesting as job creation was over 200k lower than projections, but Multiple other parts of the report were improved.
Employment rate went down .4% Wages increased Work week hours increased
It appears that employers want more employees but many people don’t want to go back to work.
The Mortgage Backed Security chart below showing mostly negative or red recently correlates to higher interest rate pricing.
In the FED Minutes released today, the Federal Reserve Board said it could begin gradual tapering process in November.
The FED detailed that the process could begin by cutting 10 billion a month in Treasury purchases And 5 billion a month in Mortgage Backed Securities.
I expect rates to continue to slowly rise as this happens.
See below interest rates for well qualified borrowers.