Last week gave the market several reports to review, with housing showing continued strength and inflation still staying on the radar.
This week, the focus shifts more toward the job market. Investors will be watching to see whether hiring is still holding steady or starting to slow. That matters because the job market is one of the main areas the Fed watches when deciding whether to stay patient or make changes later.
Markets are also watching oil prices and overseas headlines. Negotiations that had been giving investors some hope appear to have stalled for now, which has added more caution back into the market.
What This Means
Mortgage rates may continue to move around as markets react to jobs data, inflation concerns, oil prices, and global headlines. A steady job market can be positive for the economy, but it can also keep the Fed patient.
Looking Ahead
The biggest report this week will be Friday’s BLS Jobs Report, which gives markets a closer look at hiring and unemployment. Markets will also watch job openings, ADP employment, job cuts, productivity, and a Fed report known as the Beige Book, which gives a better look at how the economy is doing across the country.
Mortgage rates fluctuate daily—sometimes even within the same day—based on economic conditions.
This Week’s Economic Reports to Watch:
• Monday: None Scheduled
• Tuesday: Job Openings and Labor Turnover Survey
• Wednesday: Mortgage Apps, ADP Employment Report, Beige Book
• Thursday: Challenger Job Cuts, Productivity/Unit Labor Costs
• Friday: BLS Jobs Report
Miguel Terrazas
Mortgage Planner/Planificador Hipotecario // NMLS #227518
