So far, “jobs week” hasn’t brought anything to derail the possibility of a Fed rate cut on September 17. Most of the data has actually come in weaker than expected, pointing toward a softer labor market. At the same time, more Fed members are speaking out about their concerns with rising unemployment and what that could mean for the broader economy.
If you’re following mortgage rates, this is the kind of data that matters. A potential rate cut could help improve affordability, but the balance between inflation, jobs, and housing costs is still front and center.
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