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Market UpdatesBlog posted On February 06, 2024
There are a lot of headlines floating around about rate momentum towards the end of last week. Here’s what most of them sound like: last week’s employment situation crushed rates’ downward momentum. When you say it like that (which most of the media is), it sounds bad. But if you look at the bigger trend, it’s not that bad. It’s not bad for two reasons.
Here's what happened on Friday:
In perspective, this jump wasn’t that bad. Here’s why:
Would we have preferred a week of downward trends? Of course. But last week’s upward trend doesn’t put us in the worst position, partially because it was mostly just a one-day climb.
If you have any questions about what this means, let us know.
Sources: Mortgage News Daily, Mortgage News Daily