Mortgage Rates Mixed Following Employment Report

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Posted To: Mortgage Rate Watch

Mortgage rates were slightly higher in some cases but generally held up surprisingly well after today's Employment Situation Report showed a higher-than-expected amount of job creation in October. Trading in the secondary mortgage market was negatively affected at first, but bounced back throughout the day . Many lenders are in line with yesterday's rate sheets. Others moved slightly higher with the morning's first rate sheets and have not yet released a revised rate sheet this afternoon. The result is a fairly mixed day for rates, but one that didn't see enough movement to change the 3.375% 30yr Fixed, Best-Execution level for Conventional loans. ( Read More:What is A Best-Execution Mortgage Rate? ) Given the amount of movement that the Employment report can create and even the initial market...(read more)

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