Mortgage rates took a hit today after a 2-week winning streak came to an end, rising 0.06% for top-tier 30yr fixed quotes. Despite this single-day jump, the trend remains lower than last early April, with no indication of rate cuts from the Fed in near future. The jobs report tomorrow and inflation data on July 15th will provide crucial insights into Fed’s next move, potentially shifting expectations and affecting mortgage rates.
Source: https://www.mortgagenewsdaily.com/markets/mortgage-rates-07022025