Last week’s inflation data gave mortgage pros something to cheer about — Core PCE came in soft, boosting hopes for an October Fed rate cut. But don’t get too comfortable. In this week’s Master the Markets, Bill Bodnar warns that all eyes now turn to the labor market. With JOLTS, ADP, and the Friday jobs report on deck, even a slightly strong reading could shake market expectations and push mortgage rates higher.
Meanwhile, the 10-year Treasury battles a critical level at 4.20%. If yields break above it, higher mortgage rates could follow. But if it holds? We could see real rate relief. Don’t miss Bill’s insights into what’s driving bond yields and what could move mortgage rates this week.
