📣 Mortgage Rates Update: Don’t Relax Just Yet

📣 Mortgage Rates Update: Don’t Relax Just Yet

The average 30-year fixed mortgage rate is still hovering near 10-month lows, but here’s what really happened this week—and why it matters:

🟠 Monday: Rates ticked up slightly—highest levels this month—because bond markets reacted cautiously after a quiet weekend and ahead of the Fed's Jackson Hole meeting.
🟡 Tuesday: Rates held steady. Traders stayed on the sidelines waiting for more economic data, especially the inflation report and Fed commentary.
🔵 Wednesday (Today): A tiny bump up after the Fed minutes revealed inflation is still a bigger concern than jobs. But no big surprises = no big reaction.

📌 Bottom line: We’re still in a low-rate window, but momentum could shift quickly. Now’s a smart time to lock in rates or at least explore your options.

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Source: Mortgage News Daily