Mortgage rates are unchanged today.
After a disappointing jobs report out yesterday the markets are feeling better this morning on a better than expected weekly jobless claims. The report showed that the number of people filing for unemployment benefits fell to the lowest level in a month.
Tomorrow we’ll get to see another highly anticipated monthly jobs report from the Bureau of Labor Statistics. Mortgage rates fell back down to all-time low levels following last months report which showed that the number of news jobs created fell sharply. Currently the markets are expecting around 160,000 new jobs for April. A number north of that expectation would likely pressure rates higher and vice versa.
I expect the markets to trade sideways until then. I still don’t see how mortgage rates can improve drastically from these levels so I will remain in a locking position.
Current Outlook: locking bias