Weaker jobs report – > lower mortgage rates

Currently, we are facing the highest unemployment rate of 4.3% since the end of the COVID lockdown, which is higher than the pre-COVID era rate of 3.5%. As the Fed moves away from restrictive monetary policy, we are seeing early signs of a softening economy. The Fed may or may not make a cut of 50 basis points in September. Time will only time tell.

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