How Did the Employment Report Impact Mortgage Rates?

Hot news from AZ Home Help:

Posted To: Mortgage Rate Watch

It was a volatile week for mortgage rates. Monday and Tuesday saw rates near their best levels in nearly a month. Consumer borrowing costs then got beat up on Wednesday and Thursday, so much that we had to up the "Best Execution" 30-year fixed mortgage rate to 5.000%. That's where we last left you, just ahead of today's high risk event: The Employment Situation Report CURRENT MARKET : The "Best Execution" conventional 30 year fixed mortgage rate has fallen BACK to 4.875%. For those looking to buy down their rate to 4.75%, this quote carries higher closing costs. The upfront cost of permanently buying down your rate to 4.75% is not worth it to many applicants. We would generally only advise the permanent floatdown if you plan to hold your new mortgage for longer than the next 10 years. Ask your...(read more)

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Source: www.mortgagenewsdaily.com

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