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Soft jobs report could help slow the rise in mortgage rates

Redfin said the September jobs data is likely to give the Fed a reason to wait, which could stem mortgage rates' upward move.

Reported · Written up by our desk · Mortgages

A softer September jobs report could offer relief for mortgage rates, or at least slow the upward climb, according to Redfin News. The outlet said jobs data is no longer the only factor driving the Fed’s next steps, but it could still give policymakers a reason to pause rate hikes.

Redfin also noted that mortgage rates have been moving higher as markets priced in additional Fed rate hikes, tying the direction of borrowing costs to expectations for future interest rate action.

The piece was written by Chen Zhao, Redfin’s head of economics research, who previously led housing finance and financial markets research at the JPMorgan Chase Institute.

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