It was a short and mild week for financial reports as mortgage interest rates remained for the most part flat. The 10-year Treasury yield ended up slightly higher to 4.472% and I’m hopeful that we will remain in this newly established range, keeping us as far away as possible from a 5% yield.
This upcoming week’s financial news starts with a few of the regional Fed leaders speaking, with Chairman Powell ending the show with a presser on Friday. Additionally, home sale data and Personal Consumption Expenditures (PCE) will be released. The next big employment data hits the week of December 4th, which can always be a big market mover.
Overall, November has been a wild month for mortgage rates. We started at one of the highest levels in the year-long range and it looks like we’ll end with some of the lowest. We absolutely love this for our buyers and let’s all send a quick prayer to the mortgage gods that this decreasing trend remains our friend.
