09/13/2025
I hope you had a great week! Mortgage rates over the past week have trended downward although holding fairly steady, falling from levels earlier in the week. This drop was largely driven by a weaker-than-expected August jobs report: job growth was very modest, and prior months were revised downward, contributing to softening in labor market sentiment. Bond yields—especially the 10-year Treasury—reacted by declining, which pulled mortgage rates lower since those yields help set the pricing benchmark for fixed home loans. Expectations that the Federal Reserve may cut its benchmark interest rate at its upcoming meeting have also added downward pressure on rates. Looking ahead, upcoming inflation data (CPI and core inflation), plus the Fed’s meeting and any signals from Chair Powell, are likely to be key drivers; if inflation remains stubborn or surprises high, we could see rates bounce back up, but if labor & inflation data stay soft, further declines are possible.
