This is a YouTube video titled "Mortgage Rates Dropped! #interestrate #mortgagerates #mortgage #mortgagebroker #mortgagetips" created on November 25, 2023. The content is a single-speaker commentary analyzing recent changes in mortgage rates, discussing factors such as US Treasury bill issuance, jobless claims, and the non-farm payroll report, explaining their impact on mortgage interest rates.
What a week for mortgage rates Dropped a half percent the final three days. Let's unpack it. So on Wednesday the US treasury announced they're going to issue less treasury bills. They've been issuing a ton because that is selling off national debt but pulling back. And it's a good thing because when too much was issued it waters down the value of the treasury bills which also waters down the value of mortgages. Investors in charge a higher interest rate to make up their money. Good news mortgage rates like it. On Thursday the jobless claims came in and it expected 210,000 jobless claims. It actually came in at 217,000 jobless claims. More regions of the economy border rich rates loved it. On Friday the non farm payroll report, the biggest jobs report every single month came in. It expected one hundred and eighty thousand new jobs created in the month of October. It was way weak at 150 thousand jobs created. More weakness in the economy. Mortgage rates loved it. This is not what we've been talking about for quite some time. We're just waiting for good data and mortgage rates are going to really have a party.
