The Week in Review:
The Department of Labor’s Job Report showed that 115,000 were created. However, the market was expecting the report to show 130,000+ new jobs. The markets did not like the news causing home loan interest rates to come down slightly.
What to Expect:
Mortgage interest rates are currently at the lowest levels of all time. Interest rates have pushed lower because of limited job growth coupled with renewed concerns about debt issues in Europe.
Mortgage rates have been close to these levels several times. Each time, rates have moved back up quickly. We suggest locking into to these levels. Even if rates can move a tick or two lower, you can’t go wrong. Anyone that locks at the absolute bottom will be lucky, not good.
Next 15 Days: Lock loans
Next 30+ Days: Hard to imagine but rates have a chance to tick a bit lower. Advice is not to get greedy.
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