Posted 12/8/2023, 6:18:00 PM
Mortgage Rates Dip but May Reverse as Job Market Defies Fed Rate Hikes
- Mortgage rates dipped to 7% in November but may not last if job market stays strong
- Labor market remaining robust could slow or reverse recent mortgage rate declines
- Homebuilder shares rose on optimism that lower rates could boost home sales
- Treasury yields climbed Friday on strong November jobs report showing wage gains
- Fed pledge to keep rates high to curb inflation also pushing up long-term rates