Mortgage and refinance rates are low today. Rates tend to be low when the US economy is struggling, as it has been during the COVID-19 pandemic.

September marked the fifth month in a row that the US has added more jobs. Could mortgage rates increase soon as the economy creates new jobs? Probably not.

Yes, the country added 661,000 jobs last month — but economists had predicted 859,000 new jobs in September. The US economy is still actively recovering, but progress is slowing down. Mortgage rates will likely stay low for the rest of 2021.

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