INTEREST RATES

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⏱️ Rates in 60 Seconds

📈 Three weeks now, rates have barely moved. The 30-year sits at 6.48%, flat for the third straight week. Friday's jobs report should have shaken things loose. The economy added 172,000 jobs in May, double what forecasters expected. A hot jobs number usually pushes rates up. The market shrugged.

⚖️ Why the standoff? Two forces are canceling out. The Iran conflict keeps money flowing into bonds, which holds rates down. The strong economy pushes the other way. When they pull evenly, you get exactly what we have: rates parked in place.

🏛️ Here's the new wrinkle. Because that jobs report ran so hot, there's now talk the Fed's next move could be a rate hike, not a cut. A few months ago nobody was saying that out loud. It won't drop rates overnight, but it puts a ceiling on how far they can fall.

🎤 Realtor Insight: When a buyer asks why rates aren't dropping, the honest answer is the market is waiting, not falling. The Fed conversation has quietly shifted from "when do they cut" to "do they cut at all this year." That reframes the wait for anyone sitting on the fence.

📅 What to watch this week:

• Tuesday: Existing home sales

• Wednesday: CPI inflation report (the big one)

• Thursday: PPI and weekly jobless claims

Wednesday is the main event. A cool inflation print could finally give bonds a reason to rally and pull rates lower. A hot one feeds the hike talk and keeps us parked right where we are.