Today's Mortgage Rates | Why Rates Have Been So High This Month [Business Insider]
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Insider
Where rates go next depends on how the economy evolves in the coming months. Mortgage rates started rising rapidly in October, and for most of November, they've remained in the mid-to-high 6% range, according to Zillow data. Strong economic data, shifting expectations around future Federal Reserve rate cuts, and the bond market's response to the presidential election have been keeping rates high. Where they go next depends on the labor market, inflation, and how the Fed responds to new economic data. The Fed has lowered the federal funds rate twice so far this year, and another cut may be coming in December. However, in a recent speech, Fed Chair Jerome Powell said that the Fed can afford to take its time with future cuts "The economy is not sending any signals that we need to be in a hurry to lower rates," Powell said. "The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully." The labor market still appears to be holding
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- Today's Mortgage Rates | Rates May Remain Above 6% Next Year [Business Insider]Business Insider
- Today's Mortgage Rates | Rates Still Haven't Moved Much [Business Insider]Business Insider
- Today's Mortgage Rates | Rates Up as Investors Remain Uncertain About December Fed Cut [Business Insider]Business Insider
- Today's Mortgage Rates | Why Are Rates So Stubbornly High? [Business Insider]Business Insider
- Today's Mortgage Rates | What if the Fed Doesn't Cut Rates in December? [Business Insider]Business Insider
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