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Weak July jobs data may delay Fed hike, easing mortgage-rate pressure

The economy unexpectedly lost jobs in July and also declined in the prior month, raising the odds that the Fed pushes back anticipated rate increases.

Reported · Written up by our desk · Mortgages

Redfin News said mortgage rates may see some near-term relief after a weak July jobs report, which could delay anticipated Fed rate hikes.

The outlet pointed to labor market weakness as the key driver, noting the economy unexpectedly lost jobs in July and that it marked the second consecutive month of surprisingly soft data.

That backdrop adds uncertainty around when the Fed will move, which can affect expectations for borrowing costs, including mortgage rates, in the weeks ahead.

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