Currently viewing the tag: "Non-Farm Payrolls"

If you’re looking a buying a home this year, this is yet another economic report forecasting higher rates and Gaddafi doesn’t have enough pages in his green book to hold our mortgage rates down forever.

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Mortgage rates could move higher beginning tomorrow morning. The jobs report is always an interest rate mover.

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There are some times when you just say “if that’s not enough to make mortgage rates come down, they’re not coming down.” This might be one of those times.

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If you’re looking to dial in your mortgage rate predictions, tune your crystal ball to the jobs report, not the unemployment rate.

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The issue is that if the trend continues, 30 year fixed rates could easily be at 5.5%, even 6%, by the end of the year.

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Normally called “the jobs report,” Non-Farm Payrolls details the workforce, size, and unemployment rate. Consensus expectations are for similar data as we saw in August. August was considered “fair.” If we see surprising strength or weakness in the jobs report, look for interest rates to make a move.

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ortgage rates improved again in a week that was almost fully focused on one point of economic data. It was the jobs report and it was softer-than-expected. Friday morning’s weak jobs report pushed rates lower still, continuing to make all-time lows.

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Mortgage rates dropped to their lowest levels of the year last week. The debt problems in Greece continued to bubble all week. With each blip of bad news, more money came into US markets as investors sought safety.

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Mortgage markets improved to their best levels of 2010 last week, aided by events half a world away and ongoing safe haven buying. Greece’s debt problems continue to help mortgage rate shoppers around the country.

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Mortgage markets performed terribly last week as losses piled up day by day. It marked the second straight week of sell-offs.

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