Mortgage Rates Relatively Unharmed, Despite Unexpected Moves in Bonds
It was a busy week for economic data with several reports that were pertinent to the housing market. In addition to being the perennial top dog among economic reports, this Friday’s jobs report was especially important due to its role in the Federal Reserve’s decision-making process.
The Fed is widely expected to announce a forthcoming reduction (aka “tapering) of its bond buying program by the end of the year. If the jobs report had been strong enough, investors thought the Fed might make the announcement a few weeks from now at the September policy meeting.
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