The Jobs Report Came In Hot — And the Market Felt It Immediately

FOR THE WEEK OF JUNE 8, 2026

QUOTE OF THE WEEK

“The best way to predict the future is to create it.” — Peter Drucker, Management consultant, educator, and author

NATIONAL MARKET UPDATE

Inventory continued to exceed, year-ago levels, giving buyers more options even as the pace of growth has slowed. Homes are now selling at the same pace as a year ago, signaling that buyer demand remains steady despite affordability challenges.

Asking prices declined for the 20th consecutive week compared to a year ago, extending a trend of sellers adjusting expectations and pricing more competitively from the start. This shift is helping keep the market moving even as mortgage rates remain elevated.

Investor home purchases fell 6% in the first quarter, reaching their lowest level since 2020. Fewer investor purchases may create additional opportunities for owner-occupant buyers competing for available homes.

REVIEW OF LAST WEEK

JOBS JOLT MARKETS…stocks fell sharply last week as a stronger-than-expected jobs report pushed Treasury yields higher and reduced expectations for near-term interest rate relief.

Bond yields climbed as investors reassessed the outlook for monetary policy following evidence of continued labor market strength. Markets reacted to the possibility that elevated interest rates could remain in place longer than previously anticipated.

Despite the market pullback, economic fundamentals remain solid. Employment growth continues to support consumer spending, while housing demand has remained steady even as mortgage rates stay elevated.

The week ended with the Dow down 1.4%, to 50,867, the S&P 500 down 2.6%, to 7,384, and the Nasdaq down 4.2%, to 25,709.

Bond markets sold off as Treasury yields moved higher following the jobs report. Mortgage rates also edged up, reinforcing affordability challenges for some prospective homebuyers.

DID YOU KNOW…Investor home purchases fell 6% in the first quarter, reaching their lowest level since 2020. With fewer investors competing for homes, some buyers may find less competition in today’s market.

THIS WEEK’S FORECAST

CPI, CONSUMER SENTIMENT, FED OUTLOOK…Markets will focus on upcoming inflation data and consumer sentiment readings for clues about the economy’s direction and future interest rate policy. Investors will be watching closely for signs that price pressures are easing. Housing inventory continues to improve and buyer demand remains steady, but mortgage rates remain a key affordability challenge. Inflation data will likely play a major role in shaping market expectations heading into summer.

FEDERAL RESERVE WATCH

Forecasting Federal Reserve policy changes in coming months. Strong labor market data has tempered expectations for near-term rate relief, reinforcing the Fed’s cautious approach to policy changes. Note: In the lower chart, the 2.0% probability of change means there’s a 98.0% probability the rate will stay the same. Current rate is 3.50%-3.75%.

AFTER FOMC MEETING ON: CONSENSUS

Jun 17th 3.50%-3.75%

Jun 29th 3.50%-3.75%

Sep 16th 3.50%-3.75%

Probability of change from current policy:

AFTER FOMC MEETING ON: CONSENSUS

Jun 17th 2.0%

Jun 29th 14.7%

Sep 16th 37.7%

BUSINESS TIP OF THE WEEK

Give yourself positive inputs every day and maintain a vision of the best version of yourself—what you and your clients deserve. Confidence, resilience, and an unwavering belief in your value should be non-negotiable. 

Ready to Make Your Move? Let’s Talk Strategy.

The market is shifting — inventory is up, investors are pulling back, and sellers are pricing more realistically than they have in years. Whether you’re looking to buy your first home, move up, or review your refinance options, right now is a smart time to get a clear picture of where you stand.

I’m Kevin Brierton, your Certified Mortgage Planning Specialist and Branch Manager/SVP of Mortgage Lending at Luminate Bank. Every week I break down what’s happening in the market — not to overwhelm you, but to help you make confident, informed decisions.

Schedule a Mortgage Strategy Call with me today. We’ll review current market conditions, your buying power or refinance position, and map out the best path forward for your goals.

There’s no pressure and no guesswork — just a straightforward conversation about your next move.

👉 Schedule Your Mortgage Strategy Call

Kevin Brierton | Branch Manager & SVP of Mortgage Lending | NMLS #599873