Posted To: Mortgage Rate Watch

Mortgage rates were higher again today with multiple lenders making additional upward adjustments in the middle of the day in response to bond market volatility. The prices/yields of certain bonds are the primary building blocks for lenders as they determine where to set mortgage rates every day. Bonds respond to a variety of inputs, with the broad notion of “the economy” being one of the perennial favorites. Traders track changes in the economic outlook via various reports that are released at regular intervals. Of those reports, not one is remotely on the same stage as the Employment Situation (or simply “the jobs report”). It’s due out tomorrow at 8:30am ET. At the risk of stating the obvious, if the payroll count is much higher than expected, interest rates are more likely to see upward…(read more)

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Source: Mortgage News Daily