Mortgage Rates Rise Following Employment Situation Report

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Posted To: Mortgage Rate Watch

Mortgage rates moved higher at their fastest pace in over two weeks following Friday's Employment Situation Report. In a historical context, the losses were moderate as the range of available rates continues to be uncommonly narrow. Additionally, many lenders repriced to higher levels with yesterday afternoon's weakness, and in those cases, the day-over-day damage is less severe. The most prevalent and efficient rate quote for an ideal scenario was in the process of edging down to 3.25% for 30yr Fixed, Conventional Loans before yesterday's weakness. Since then, 3.375% has crept back into the picture as a Best-Execution rate, but 3.25% is still viable depending on the lender and scenario. ( Read More:What is A Best-Execution Mortgage Rate? ) Today's market movements resulted, in large part,...(read more)

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Source: www.mortgagenewsdaily.com

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