Independence Starts with a Smart Mortgage Game Plan
Mortgage applications rose 2.7% last week as average rates dipped to their lowest levels since April.* But after a stronger-than-expected jobs report, we’re already seeing conditions shift — reminding us how quickly the market can turn.
If you’re working with buyers who have been on the fence, now may be the time to re-engage. I’m here to help them act quickly, navigate their options with confidence, and keep deals moving forward.
You can count on me for proactive communication, quick problem-solving and a smooth process that makes you look good to your clients. Have a client in mind? Let’s make their next move a success.
Mortgage rates edged higher this week following a stronger-than-expected June jobs report that added fresh complexity to the Fed’s policy outlook. Non-Farm Payrolls came in at 144,000, beating expectations of 110,000 and undercutting recent narratives of labor market softness. The unemployment rate dropped slightly to 4.1%, while the labor force participation rate ticked down to 62.3%, suggesting a tighter labor market despite the headline gain. Slower wage growth offered a small offset, but not enough to shift the broader tone.
The report adds to the pressure on Fed Chair Jerome Powell, who has faced growing calls to begin cutting rates amid signs of economic slowing. However, stronger labor data combined with this week’s hotter ISM manufacturing and services price components strengthens the case for holding steady. Rising input costs and firm employment numbers are keeping inflation concerns alive, making it more difficult for the Fed to justify a move before September. Markets are now pushing back expectations for a first cut, and yields have climbed in response — pushing mortgage rates slightly higher to close out the week.
While momentum around rate cuts has slowed, borrowers still have opportunities in today’s market. Staying closely attuned to shifting data and Fed signals will be key as we move deeper into summer.
