Chen Zhao

A look below the surface reveals a less-hot picture of the late-2023 labor market than the hot December jobs headline suggests. The latest jobs report is unlikely to impact mortgage rates much.  On the surface, the December jobs report appears to be a hot dataset that should cause interest rates to increase and make the

The Fed’s forecast that it will cut interest rates three times in 2024, up from a previous projection of two times, is already helping with housing affordability. Daily average mortgage rates dropped to 6.82% after the Fed meeting.  The Fed held interest rates steady at its December 13 meeting, as expected, though they’re still sitting

Serious homebuyers should be on the lookout for a good time to lock in a lower mortgage rate–and now could be that time. The October inflation report has already pushed mortgage rates down to 7.4% from nearly 7.6% the day before. Good inflation news. Headline inflation was unchanged from the month before in October. That’s

The latest labor-market report closes out a week of good news for mortgage rates.  The October jobs report shows slower-than-expected growth in the labor market, which has already pushed interest rates down and driven mortgage rates down to 7.36%, their lowest level since mid-September.  This labor-market report closes out a week that has already brought

The U.S. treasury announced they’re going to issue less long-term debt than expected and the Fed held interest rates steady. Those two events brought rates down a bit–at least temporarily.  Mortgage rates came down slightly today, with the daily average 30-year rate dipping to 7.69%, its lowest level in about three weeks. Rates hit a

When the 10-year treasury yield increases, mortgage rates increase. Several factors are causing the treasury yield to rise, including a resilient job market and consumers spending freely on things like Taylor Swift concerts and tickets to the Barbie movie.  The average 30-year mortgage rate hit 7.79% last week, its highest level in 23 years. Despite