Mortgage Rate Update April 6, 2015

Posted on by Evan in Rate Update, Swanson Home Loans Blog - Mortgage Rate Updates and More

Mortgage rates are more or less unchanged from last week.

In case you missed it Friday’s all-important jobs report was much weaker than expected.  The US economy added only 126,000 new jobs whereas analysts had been expecting ~245,000.  On the release mortgage rates improved.

However, mortgage rates are having a tough Monday as US stocks rally.  The Dow Jones Industrial Average is currently up approximately 150 points.  When stocks rally mortgage rates often suffer.

US stocks are rallying this morning which is pressuring mortgage rates higher.
US stocks are rallying this morning which is pressuring mortgage rates higher.

The economic calendar is very light this week.  The highlight comes on Wednesday when the Fed will release minutes from the last monetary policy meeting.  This event always has the potential to move the markets yet their last statement was pretty clear so it’s hard to imagine they’ll be any surprises.

From a technical perspective mortgage rates appear vulnerable.  I will recommend a locking bias.

Current Outlook: locking bias