Mortgage Rates Lowest This Week After Jobs Report

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Posted To: Mortgage Rate Watch

Mortgage rates had been under heavy attack for several weeks before finally striking back yesterday. The counterattack could only go so far with today's important Employment Situation Report looming. Fortunately, the results were not strong enough to send rates back up. The result is a continuation of yesterday's bounce, bringing rates to their best levels of the week. The most prevalently-quoted conventional 30yr fixed rate is once-again 3.875% with a few lenders on either side of that (3.75% or 4.0%). While it's a very welcome change of pace compared to recent weeks, the gains over the past two days only undo a fraction of the damage. US markets are clearly unwilling to make any big commitments until they get input from European markets, which have been chiefly responsible for current volatility...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/470569.aspx

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