The Jobs Numbers Caused Major Improvement in Interest Rates. Here is your Weekly Mortgage Update!

TODAY’S MORTGAGE RATES

Mortgage Interest Rates improved almost
.25% with the Mortgage Backed Security
(MBS) Market trading up +74 bps.

Below are your average interest rates
across the country according to
Mortgage News Daily.

This has been a great week
for interest rates.

The FED did not change the Federal
Funds Rate at their meeting last
week as expected. In Jerome
Powell’s remarks he stated that
the FED still needed to be careful
of potential inflation due to tariffs.
Keeping rates elevated typically
helps inflation by lowering demand.

On Thursday, The Personal Consumption
Expenditures (PCE) inflation report
was released. Year over Year Inflation
came in at 2.6%, And Core inflation
(stripping food and energy) came in
at 2.8%.

The biggest market mover last week
was Friday’s release of the BLS
Jobs Report. Job creation came in
lower than expected. 73,000 jobs vs.
110,000 estimates. They also lowered
the prior 2 months data by a massive
-258,000 jobs.

Both of these lower jobs numbers
impacted interest rates positively,
With the Bond market shooting
up on Friday and Monday.

Trump was so disappointed in the
numbers he fired the commissioner
of the BLS stating that the numbers
were rigged and not accurate.

Interest rates have now hit the
lowest levels of 2025, surpassing
early April 2025. See chart below.

There are a lot of characteristics
that go into a mortgage rate –
credit score, investor, loan to
value, loan amount, costs, etc.
Please call me to go over your specific
scenario so we can price your loan
out accurately.

Or you can get a Free Mortgage Quote
or Apply for a Mortgage with the links below.

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HOME PRICE UPDATE

Case-Shiller’s Home Price Index was
released last week. The numbers
show that home prices are down
month over month -.3% on a
seasonally adjusted basis.

Despite the numbers showing home
prices dropping per month, home
prices are still up +2.3% on a year
over year bases.

Here are the home appreciation numbers
for the 20 city index on a year over
year basis.

1. New York +7.4%
2. Chicago +6.1%
3. Detroit +4.9%
4. Cleveland +4.8%
5. Boston +4.6%
6. Washington +3.3%
7. Las Vegas +3.3%
8. Charlotte +2.5%
9. Minneapolis +2.5%
10. Seattle +1.8%
11. Atlanta +1.7%
12. Portland +1.3%
13. Los Angeles +1.1%
14. Phoenix +0.9%
15. Miami +0.6%
16. San Diego +0.4%
17. Denver +0.0%
18. San Francisco -0.6%
19. Dallas -0.6%
20. Tampa -2.4%.

Hope you have a fantastic week!!!