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Hot jobs data lifts odds of a September Fed rate hike
Redfin says the next week’s CPI data is the key factor for mortgage-rate expectations, after August job creation rebound.
A hotter-than-expected jobs report is putting upward pressure on interest-rate expectations, slightly increasing the odds that the Federal Reserve will raise rates at its September meeting, according to Redfin News.
The outlet said that while labor-market momentum matters for today’s rate outlook, the deciding factor for the Fed path is next week’s CPI inflation data.
Redfin also tied the rate outlook to mortgage-rate expectations, noting mortgage rates could be sensitive to how markets interpret incoming inflation data as they move into the September meeting and other upcoming data releases.