Mortgage Rates Rise Abruptly Ahead Of Important Jobs Report

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Posted To: Mortgage Rate Watch

Mortgage rates rose to their highest levels of the week on Thursday as bond markets moved into a defensive position ahead of Friday's major employment data. Although there were several pieces of economic data today, it was this defensive positioning that accounted for most of the rise in rates. Many lenders recalled initial rate sheets for mid-day price increases as bond markets sold off. Best-Execution levels are getting a bit sloppy here with most lenders still at 3.25%, some creeping up into 3.375% territory and an aggressive few at 3.125%. ( Read More:What is A Best-Execution Mortgage Rate? ) This week's focus has been on the uneventful market movements and the tame movement in rates contrasted against the looming risks associated with Friday's Employment Situation Report. This is the most...(read more)

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Source: www.mortgagenewsdaily.com

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