May 8th, 2026 8:47 PM by T. Fanning
Happy Friday! Enjoy your weekend!
Mortgage markets stayed volatile this week because of mixed news about the Middle East conflict, but rates ended the week slightly lower with a small decrease from last week’s levels. Higher oil prices and government spending related to Iran are adding to inflation concerns, though slower global growth could help offset some of that pressure. The economy added a stronger-than-expected 115,000 jobs in April, unemployment stayed at 4.3%, and both the service and manufacturing sectors continued to grow, although a bit slower than expected.
Looking ahead, investors will continue watching news about the conflict in the Middle East and comments from Fed officials about future interest rates. This week’s key economic reports include home sales, inflation data like CPI and PPI, and retail sales, which are closely watched because consumer spending plays a major role in the U.S. economy.
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