Mortgage Rates Stay Calm Ahead of Important Jobs Report
November 6, 2014
Mortgage rates didn't budge today. Most lenders didn't adjust rate sheets enough to affect yesterday's loan quotes. This is a fairly rare occurrence. There's almost always at least some small adjustment in the closing cost side of the equation, even if the quoted contract rate is the same. It goes without saying, then, that the most prevalently-quoted rates are exactly the same as yesterday. That leaves a fairly even split between 4.0 and 4.125% on conforming 30yr fixed scenarios for top tier borrowers.
Markets expressed only a small amount of the potential volatility associated with this morning's events. This places even more emphasis on tomorrow morning's Employment Situation Report, which is always the biggest potential market-mover of any given month in terms of scheduled economic reports. As always, it can push rates significantly higher or lower, depending on how the actual result compares to the forecast.
Markets expressed only a small amount of the potential volatility associated with this morning's events. This places even more emphasis on tomorrow morning's Employment Situation Report, which is always the biggest potential market-mover of any given month in terms of scheduled economic reports. As always, it can push rates significantly higher or lower, depending on how the actual result compares to the forecast.
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