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Mortgage rates slip as the average 30-year fixed falls to 7.54%
Mortgage News Daily said the average top-tier 30-year fixed rate dropped to 7.54% from 7.60% and pointed to the upcoming jobs report as a key potential driver.
Mortgage News Daily reported a rare down day for borrowing costs, with mortgage rates moving lower during the trading session. The outlet said the average top-tier 30-year fixed rate fell to 7.54% from 7.60% yesterday.
The outlet said the bond market rally behind the move could reflect multiple factors, though none stood out as a single clear motivation.
Looking ahead, Mortgage News Daily highlighted the next jobs report as a likely tone-setter, saying stronger-than-expected job growth could end the improving conversation, while weaker-than-expected growth could revive it.