Mortgage rates rise for first time in a over a month — as key economic reports shift the market’s outlook

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'After touching their lowest point in six months, mortgage rates rose over the last seven days as some key economic reports shifted the market’s outlook,' said Zillow senior economist Matthew Speakman.

Mortgage rates surged higher in the wake of July’s strong jobs report as the market begins to price in a change in stance at the Federal Reserve.

“ ‘After touching their lowest point in six months, mortgage rates rose over the last seven days as some key economic reports shifted the market’s outlook.’ ” Economists see the positive developments in the labor market, as well as additional indications of rising inflation, as a prelude to the Federal Reserve shifting its stance.

 

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