Currently viewing the tag: "Non-Farms Payroll"

Mortgage rates are rising, up nearly 1 percent since mid-October. Tomorrow, rates could rise again.

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Last week was another holiday-shortened week marked by volatility. Mortgage rates improved on three of the four trading days, but still lost overall on the week as Wednesday posted a staggering 93 basis point loss, one of the 10 worst days of the year.

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Mortgage rates have been falling since April, shedding more than 1 percentage point since the Refi Boom began creating interesting 30 Year v. 15 Year v. 5/1 ARM comparisons.

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This is commonly referred to as the “the jobs report” and the data strongly influences stocks and bonds and therefore is highly influential with home affordability figures. Especially in today’s economic climate and we saw mortgage rates dip lower on Friday.

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Jobs Gain, Mortgage Rates Lose

On September 3, 2010 By

If the broader economic picture turns towards anything other than the worst-case projections, home values and mortgage rates should continue to rise.

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A major reason that interest rates dipped even lower last week was due to the rather disappointing jobs report.

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Conforming and FHA mortgage rates dropped for the fifth time in six weeks and, once again, rates are trolling back near all-time lows.

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This week’s Interest Rate Predictions were watching today’s jobs report. First Friday of the month we get the Bureau of Labor Statistics’ “Non-Farm Payrolls” report from the prior month.

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For the first time in five weeks, both conforming and FHA Chicago mortgage rates rose. The all-out global financial crisis was downgraded to a somewhat global financial crisis and we saw stocks gain at the expense of bonds, including mortgage backed securities.

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