Rates stabilized in the past week after going up .125% to .25% the week prior.
The US Non Farm Jobs Report is released for September. Expectations are for about 475,000 jobs created and the unemployment rate to drop from 5.2% to 5.1%.
If the job creation meets expectations, it’s highly likely the FED announces a Bond Taper at their next meeting.
Inflation is high and with the economy showing signs of continuous improvement, the thought is that tapering would need to follow.
With Mortgage Applications at 3 month lows, I would encourage urgency to get under contract and a rate locked in before a FED taper likely raises rates.
See interest rates for well qualified borrowers.
