Mortgage rates are rising, up nearly 1 percent since mid-October. Tomorrow, rates could rise again. [...]
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In a holiday-shortened week on Wall Street, mortgage markets improved on 3 of 4 days, but still posted its fourth consecutive losing week. [...] Mortgage rates have been falling since April, shedding more than 1 percentage point since the Refi Boom began. Today, that momentum could lose some steam. [...] According to the government, 95,000 jobs were lost in September. Economists expected a net loss of 5,000. Mortgage rates should improve on the data today. [...] On the first Friday of each month, the Bureau of Labor Statistics releases Non-Farm Payrolls data for the month prior. 54,000 jobs were created in August. [...] Analysts expect that a net 65,000 jobs were lost in July. Wall Street — and Main Street — have a big interest in those results. Friday’s July Jobs Report Could Spur Mortgage Rates Higher [...] Non-Farm Payrolls hits the wires Friday at 8:30 AM ET. Markets are expecting a 75,000 net loss of jobs last month. If the actual number is higher, mortgage rates should rise. If the actual number is lower, mortgage rates should fall. [...] At first glance, the June jobs report looks weak but a deeper look shows something different. [...] Market momentum is currently in the rate shoppers’ favor. We entered the weekend with rates falling and they look poised to open Monday no worse. [...] According to the government, 431,000 jobs were created in May, but of those new jobs, 95.4 percent represented temporary staffing for the 2010 Census. Home affordability is improving on the report. [...] |
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