When looking back on the week that was, it seems like mortgage rates went on a wild ride. Lenders repriced for the better and lenders repriced for the worse, sometimes they did both on the same day. Yet, ahead of the most influential economic report released by the government, rates managed to find their way back to where they started the week: NEAR 2010 MORTGAGE RATE LOWS. At least until 8:30am this morning. At 8:30 am eastern time, the Bureau of Labor Statistics released the monthly Employment Situation report. As stated already, this is the single most important piece of monthly economic data released to the market. Since consumer spending accounts for the vast majority of our economic growth, market participants track jobs as a way to gauge consumer demand and economic activity. If the…(read more)
How Did The Employment Report Affect Mortgage Rates?
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