Mortgages rates across the board improved today on the news of the unemployment rate falling to 8.6% from 9%. The unemployment rate has not been this low for 2 1/2 years.
Initially, the stock market improved on the news on .4 % change in the unemployment rate with a liquidation of bonds. During trading this afternoon, this stock market improvement became short-lived as money began pouring into the bond market after news came of the Fed’s commitment to purchasing treasury securities to help lift the bond market.
Mortgage rates are improving, time to lock in that mortgage interest rate.
You can secure a 30 year fixed-rate mortgage near 4% with little or no upfront overhead in the form of discount points. As mortgage the bond market continues to experience an influx of funds, mortgage rates will continue to improve. That’s the hard truth. It’s a great time to think about getting a mortgage loan for a purchase or for a refinance because you can scoop up a “hair cut” interest rate.
This chart represents the ebb and flow of money flowing into the bond market since November 2, 2011. Consistently since November 25 mortgage bonds have been is in a holding pattern of continual improvement providing lower mortgage rates across the board for consumers looking for the lowest possible interest rate.
Mortgage rates are looking very attractive, time to find the best possible interest rate for your next Sonoma County home loan.
You can fill out a request for a complementary mortgage rate quote and see just how good mortgage rates are. This improvement mortgage rates is across the board for all loan programs including both government and conventional. Mortgage rates have improved on the latest jobs report.