by Calculated Risk on 9/08/2025 08:09:00 PM
To their credit, most mortgage lenders did an admirable job of aggressively pricing-in the bond market rally after last Friday’s jobs report. Many mortgage market pros repeat the phrase “stairs down, escalator up” when it comes to the pace at which lenders change rates. The idea is that lenders are quicker to raise rates than cut them, but this clearly wasn’t the case this time.
…
But gains are gains, and the small improvement brings the average top tier 30yr fixed rate to another 11-month low. [30 year fixed 6.28%]
emphasis added
Tuesday:
• At 6:00 AM ET, NFIB Small Business Optimism Index for August.
• At 10:00 AM: the Bureau of Labor Statistics (BLS) will release the Current Employment Statistics Preliminary Benchmark (National) for March 2025.
