Mortgage Rates at Crossroads Ahead of Employment Situation Report

Posted To: Mortgage Rate Watch

Tomorrow the Bureau of Labor Statistics will release the Employment Situation Report. This is the single most influential monthly dataset shared with the market. It carries the potential to shift investment perspectives and realign outlooks. It could be way better than expected and 30 year fixed mortgage rates could go into the 5's by the end of the day. It could be way worse than expected and rates might take reasonable steps back toward 4.25%. It could do either of those things and rates could be relatively unchanged. Or it could do either of those things and paradoxical opposite reactions could occur. The point here is that tomorrow is definitely NOT about how NFP prints compared to how economists expect it to print. It is all about how the market receives it and whether or not there are...(read more)

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Source: www.mortgagenewsdaily.com