Most economists were expecting mortgage rates to fall over the course of the coming year. But rates have risen steadily over the last month, inching back up to 7% — and they’re expected to move even higher in the coming weeks.

U.S. businesses added 256,000 new positions last month, far exceeding expectations as overall the economy continues to rev up.

Federal Reserve policymakers got fresh reasons to hold short-term borrowing costs steady after government data signaled renewed strength in the U.S. job market, with traders now betting the U.S. central bank will wait until June to cut interest rates again and end its rate-cutting cycle there.

St. Louis Fed President Alberto Musalem suggests greater caution is warranted on reducing interest rates.