Rates Fall to 2017 Lows After Jobs Report

Mortgage rates moved convincingly lower today following weaker-than-expected employment data from the Labor Department. The big “jobs report” showed only 138k new nonfarm payrolls (the report’s headline job creation metric) in May, and a negatively revised 174k in April (down from 211k). March was revised lower as well, painting a suddenly gloomier picture relative to […]

Rates Edge Higher Ahead of Jobs Report

Mortgage rates gave back yesterday’s gains this morning following a stronger-than-expected employment report from ADP. While this is not the week’s biggest jobs report, investors view it as one of several early indicators of the official Employment Situation (the big jobs report that comes out tomorrow morning). In general, stronger economic data (i.e. more job […]

Mortgage Rates Slightly Lower After Jobs Report

Mortgage rates recovered today, moving sideways to slightly lower after losing ground over the past few days. Today’s focal point was the Employment Situation–the big “jobs report” for the month of April. Job creation ended up slightly stronger than expected (211k new jobs created versus a median forecast of 185k). Stronger jobs data typically puts […]

Mortgage Rates Higher Ahead of Jobs Report

Mortgage rates moved higher today, bringing them back in line with the highest levels in nearly a month. That sounds a bit worse than it actually is, due to the narrow range of rates over that time. In fact, most prospective borrowers would be quoted the same rate as yesterday, with the only difference being […]

Rates Paradoxically Higher After Jobs Report

Mortgage rates rose modestly today, compared to yesterday’s latest levels. Compared to the morning’s rate sheets however, the rise was sharper, but even then, we’re talking about fairly small movement in the bigger picture. 4.125% is still easily the most prevalent conventional 30yr fixed quote for top tier scenarios, with the only change being in […]

Rates Steady Near 2017 Lows Ahead of Jobs Report

Mortgage rates remained largely unchanged today, on average. Once again, there was a fair amount of volatility in bond markets (which dictate rates) during the day, but said volatility was contained in a narrow range that’s persisted all week. In fact, all of this week’s bond market movement has taken place inside the highs and […]

Rates Steady Despite Strong Jobs Data. Here’s Why…

Mortgage rates held steady today, despite a key report from the Labor Department showing stronger-than-expected job creation in February. Typically, a strong jobs report is bad for rates. This one likely would have been bad as well, but markets got advance notice from another report earlier in the week. Remember Wednesday’s ADP data? It thoroughly […]

Mortgage Rates Edge Lower Ahead of Jobs Report

Mortgage rates fell modestly today, but not enough to make it back to the lows seen earlier this week. 4.25% is still the most prevalent 30yr fixed rate on top tier scenarios, meaning day-to-day movement has been limited to upfront costs (sometimes referred to as “points,” depending on the source of information). Since last Friday, […]

Mortgage Rates Higher, But Still in Good Shape After Jobs Report

Mortgage rates moved moderately higher today after the Employment Situation Report (aka “the jobs report” or simply “NFP,” after its trademark component “non-farm payrolls”). This was a bit counterintuitive considering headline job growth was slower than expected. Closer inspection reveals that the previous report was revised for the better. This offset the current report’s weakness. […]

Mortgage Rates Bounce Lower Despite Jobs Report

Mortgage rates erased yesterday’s losses after today’s jobs report, though not necessarily because of it. The Employment Situation (affectionately referred to as “the jobs”) is traditionally one of the biggest sources of market movement. So when rates make a big move following the jobs report, it’s only natural to assume a cause and effect relationship. […]