The 30-year mortgage rate increased three basis points following the Central Bank’s interest rates hike and a strong January jobs report. Marty Green explained to Mortgage Professional America that the latest job report may prompt the Federal Reserve to increase interest rates again at its March meeting.
“If the Federal Reserve sees wage pressures as a result of too robust a job market, the quarter-point interest rate increases could continue at several more meetings in the coming months,” Green said. “Markets currently only forecast two more such increases before the Federal Reserve.”
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