Mortgage Market At a
Glance

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Stocks are faring well after stronger then expected employment numbers. Data showed the economy added jobs, positively revised previous months’ numbers and indicated more people are encouraged to seek employment. Stocks have fallen from their highs this morning after a weak manufacturing data in the service sector came out.

MBS are down on the day and have lost quite a bit of ground this week, but remain at historically high levels. Borrowing costs remain low, however, are creeping up from their lowest levels in years.

As we said on Monday, if this is the start of a positive trend in stocks, expect rates to rise. Tools implemented by the Fed should keep rates from jumping up, but slow and steady increases would signify investors are gaining faith in the economy.

I hope this has helped your business and provided clarity for your clients.
Use “Post By Category” on the right to review previous “Mortgage Market At a Glance”.

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Mortgage Market At a Glance™ indicates the trend of mortgage rates and provides commentary about market conditions.

This format is not to meant to offer locking, or any other advice on any specific situation. It is for informational purposes only.

Market data is subject to change without notice.

Feel free to contact me if you have questions. 520-271-7495 Tom@TheHeathTeam.com