Mortgage Rates Destroyed (Relatively) by Another Strong Jobs Report

Mortgage rates were more or less obliterated today. Of course, everything’s relative, so the obliteration is only relative to the average day of rate movement. In that regard, today’s movement was about as sharp as it gets apart from the truly epic adjustments like those seen in the mid-2013 taper tantrum. But compared to the long-term range of mortgage rates through the years, we’re still very near the lower bound. I’ve always wondered though, what good does it do us to know we’re RELATIVELY low on the spectrum if loan scenarios are falling apart or monthly payments are going up by a significant amount overnight? Realistically, the only good I can think of is for the smug sense of self-sati…
Mortgage Rates Newsletter – Market Analysis

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