Mortgage Rates Move Higher After Strong Employment Data

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Posted To: Mortgage Rate Watch

Mortgage rates bounced back from a few days of moderate improvements today. Lenders typically don't release their first rate sheets of the day until a few hours of the trading session have passed. If rates sheets would have arrived before this morning's economic data, rates likely would have logged slight incremental improvements. But today's Jobless Claims report showed far fewer Americans filed for unemployment benefits this week, sending bond markets into weaker territory before most lenders issued today's rates. This resulted in most lenders moving noticeably, but not catastrophically higher in terms of borrowing costs, while Best-Execution levels remained unchanged at 3.5% (some availability at 3.375%). ( Read More:What is A Best-Execution Mortgage Rate? ) Bond markets, including MBS ...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/292870.aspx

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