The Week in Review:
The December jobs report surprised the markets last Friday with a much lower than expected number of job gains. The report helped mortgage interest rates drop from multiple year highs.
What to Expect:
The drop in rates continued into this week. However, it would not be wise to see this as a change in the overall trend. Home mortgage interest rates will continue to climb during the year. The advice is to get them while you can.
This week we will receive numerous economic reports starting Tuesday. Retail, manufacturing, inflation and housing will be highlighted. Locking is still the best option. This week’s economic data may put interest rates right back where they were.
For transactions closing in:
Next 15 Days: Lock
Next 30+ Days: Lock
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