Unemployment benefits currently extend up to 26 weeks. The share of individuals unemployed for 27 weeks or more has increased from 21.3% to 23.5%—the highest level in three years. This means nearly one in four unemployed workers are no longer eligible for benefits, adding further strain to the economy.

Additionally, the median duration of unemployment rose to 10.4 weeks, up from 9.8 weeks, indicating a broader slowdown in job recovery.

Current Unemployment rate remains at 4.2% but we see a reasonable scenario where the rate rises to 4.4 to 4.5%. The Feds cannot ignore the obvious signs of a slowing economy.

Translation; Mortgage Rates will drop.

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