How Did the Employment Report Affect Mortgage Rates?

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Posted To: Mortgage Rate Watch

It finally happened. The range has been officially broken. In the wrong direction..... The RANGE that has been the topic of so much conversation here has finally been broken. Over the past 6-8 weeks, we've sat through an extremely stagnant market in terms of mortgage rate movements. The only volatility we've experienced was seen in the closing costs associated with obtaining a "Best Execution" mortgage rate. Through all that time, it was 4.875, more than any other note rate, that emerged as the "sweet spot" (best-execution) rate for conventional conforming 30 year fixed home loans. 4.875 is still obtainable on rate sheets, but you'll have to pay much more for it than you have earlier this week. The new conforming 30 year fixed best execution note rate range lies between 5.00 and 5.125%. In...(read more)

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Source: www.mortgagenewsdaily.com

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