Mortgage Rates Start Higher, But Fall After Economic Data

The Federal Reserve is far from the only game in town when it comes to exerting influence on interest rates .  That's a loaded statement, of course, considering we spent last week explaining why mortgage rates often go the  opposite direction from a Fed rate cut/hike.  True to form, rates have generally inched higher since last week's Fed rate cut. But the Fed will be the first to tell you that their decision-making process is primarily informed by what's going on in the economy.  On that note, they are on the same footing as the financial markets that determine the day to day changes in rates.  The labor market is a particularly hot topic when it comes to monitoring economic data right now.  The more it looks like it might be weakening, the more keen the Fed will be to keep cut