U.S. markets closed
  • S&P 500

    3,825.33
    +39.95 (+1.06%)
     
  • Dow 30

    31,097.26
    +321.83 (+1.05%)
     
  • Nasdaq

    11,127.84
    +99.11 (+0.90%)
     
  • Russell 2000

    1,727.76
    +19.77 (+1.16%)
     
  • Crude Oil

    108.46
    +2.70 (+2.55%)
     
  • Gold

    1,812.90
    +5.60 (+0.31%)
     
  • Silver

    19.85
    -0.50 (-2.44%)
     
  • EUR/USD

    1.0426
    -0.0057 (-0.54%)
     
  • 10-Yr Bond

    2.8890
    -0.0830 (-2.79%)
     
  • GBP/USD

    1.2103
    -0.0072 (-0.59%)
     
  • USD/JPY

    135.1750
    -0.5530 (-0.41%)
     
  • BTC-USD

    19,062.14
    -231.29 (-1.20%)
     
  • CMC Crypto 200

    420.84
    +0.70 (+0.17%)
     
  • FTSE 100

    7,168.65
    -0.63 (-0.01%)
     
  • Nikkei 225

    25,935.62
    -457.42 (-1.73%)
     

Mortgage Rates Increase as Labor Markets Remain Tight

·1 min read

Mortgage rates increased last week after three weeks of declines.

Payroll and unemployment data showed labor markets remain extremely tight. Manufacturing and services activity data were strong, but delivery delays suggested continued supply chain issues. Comments from Federal Reserve members signaled that their primary concern is addressing inflation. Consumer spending remained high, potentially easing near-term recession concerns from investors. Based on all these data points, markets moved to price back in more Federal Reserve tightening, driving rates higher last week.

Markets will be focused on Consumer Price Index data later this week for further readings on inflation and any potential impacts that could have on Federal Reserve policy.

The post Mortgage Rates Increase as Labor Markets Remain Tight appeared first on Zillow Research.