Mortgage rates remain uncertain despite gloomy jobs data 📊🤔📈

Flash Market Update

Jul 02, 2026

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MARKET RECAP ⏪
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Bond markets continue to navigate between geopolitics and the economy, but lack conviction on which way to go.

After a volatile two months, mortgage rates finished the last 40 trading days smack-in-the-middle between the high and low.

Resurfacing tensions in the Middle East had investors on their heels this week, reversing last week’s positive momentum; although the bond sell-off was somewhat tamed by conflicting employment data.

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The Thursday morning Non-Farm Payroll jobs report missed expectations, with the survey results showing only 57k new jobs added versus a consensus forecast of 115k.

However, the unemployment rate dipped, but this was mostly caused by a slump in the labor force participation rate; the denominator used to calculate the unemployment figure.

Even if the number of employment persons drops, the final ratio can decline if the number of people considered to be “looking for work” declines faster.

This shows the ambiguous nature of government published data, especially surveys which are also referred to as “soft data”.

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HOT TOPICS 🔥
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Drop a comment on any of these topics (or share your own).

Do you trust government data and their survey reports?
What is the job market like in your area?
Do you think mortgage rates will finish the month of July better or worse?

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Thanks for reading…

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The below snapshot is just a glimpse of today’s rates, but the pricing you see is exactly what you get - there are no additional lender fees or origination charges.