My Mind on Mortgages

Mortgage rates are unchanged from yesterday and are expected to remain here until tomorrow’s monthly jobs report.  Click this link to learn why the jobs report is such an important economic report for mortgage rates.

Given the current condition of the economy it’s expected that tomorrow’s jobs report will be ugly which would ordinarily help mortgage rates move lower.  However, these are not ordinary times.  Because analysts are expecting the jobs report to be poor (the market currently expects jobs losses of 363,000), even a modest sign of hope could push rates higher.

Given yesterday’s increase in fixed rates we feel comfortable floating rates into the report tomorrow.

Current Outlook: Floating into tomorrow’s jobs report