BREAKING NEWS THAT COULD PUSH MORTGAGE INTEREST RATES LOWER!!! #mortgage #interestrates #firsttimehomebuyer #homebuyer #refinance

We've got some breaking news for you this morning that could push mortgage interest rates lower. For those of you guys that don't know me, my name is John Kams, also known as mortgage junk. I've been a mortgage loan officer for 25 years. ADP released their private sector employment report, and this report was a miss. There were 38,000 jobs created in the private sector, but the market was expecting 47,000. And the overwhelming majority of these jobs were in education and health services, which is not indicative of a strong economy. The private sector and manufacturing, which would be indicative of a strong economy, actually lost jobs. And this is ahead of the big BLS jobs report that we are going to get on Friday morning. It will be very interesting to see. Now we've definitely had instances in the past where ADP missed expectations, and then the BLS jobs report shattered expectations. And if you remember last month, the June jobs report was a big miss. We had big job losses in the month of June. So it'll be really interesting to see how the Fed reacts. I do think the market's reaction to this is going to be somewhat muted just because they are really wanting to see what the Fed does on the 16th. And as we know, Fed Chair Warsh has been pretty tight-lipped about it, and the Fed futures market is predicting about a 70% chance that the Fed will hike rates on September 16th, which ironically I think would actually be good for mortgage interest rates. So it'll be interesting to see. We do have two inflation reports coming out before the Fed September 16th meeting, which is really going to dictate where interest rates are going forward. But the 10-year treasury is at the highest level since 2025, and no doubt interest rates are spiking. And again, as I've said in many other videos, ironically, this could be a great buying opportunity for those that are positioned right. So I hope this helps. As always, let me know if you or anybody you know need help buying, selling, or refinancing home. [BLANK_AUDIO]