The labor market gives the committee room: unemployment slipped to 4.1% and private payrolls posted their strongest gain since March.
Williams said the Fed can do little about the higher cost of living, warning that reversing price levels would cause “huge distortions and damage to the economy.”
Michael Pearce and Bernard Yaros of Oxford Economics say strong jobs data, persistent inflation, and AI-driven investment are reinforcing expectations for a December Fed rate hike, with mortgage rates likely to remain elevated. https://t.co/FJNAquFXeV
— Mortgage Professional America Magazine (@MPAMagazineUS) November 11, 2026
What does it mean for mortgage brokers?
Borrowers have had a brief reprieve. Freddie Mac reported the 30-year fixed-rate mortgage averaged 7.11% for the week ending Nov. 12, a fourth straight decline and a seven-week low. That relief is fragile as the 10-year Treasury yield climbed to 5.068% on Thursday as oil prices rose.
Yury Shraybman, an originator at Innovative Mortgage Brokers in Pennsylvania, said the rate climb has made some buyers more cautious, particularly those already stretched on their monthly payment.
“I tell my clients to focus on the overall payment rather than just the rate, so we are looking at different ways to structure the loan, including seller concessions, temporary or permanent buydowns, and ARMs when they actually make sense for that particular buyer,” he told Mortgage Professional America.
