Mortgage Rates Rise Ahead of Big Jobs Report

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Posted To: Mortgage Rate Watch

Mortgage rates gave up recently-enjoyed gains today. This brings them to the week's highest levels (and the 3rd highest in 2015) a day before the all-important Employment Situation Report. Also referred to as "the jobs report" or simply "nonfarm payrolls," this is the most important piece of economic data released each month in terms of potential to move interest rates. If job growth is stronger than expected, rates usually rise. The farther away the actual number is from forecasts, the more markets usually move. Tomorrow is no exception despite several other important considerations ahead. One consideration that's hard to miss these days is Greece. The country goes to a referendum this weekend in order to vote on 'something.' No one is abundantly clear on what that 'something' is, but the...(read more)

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Source: http://www.mortgagenewsdaily.com/consumer_rates/483913.aspx

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