Mortgage Rate Update September 2, 2011

Posted on by Evan in Rate Update

Mortgage rates are better this morning.

The Bureau of Labor Statistics monthly jobs report disappointed investors this morning showing no new jobs created for the month August.  Furthermore, previously released job creation figures for June & July were revised slightly lower.  On this news stocks are trading lower and interest rates have improved.

The weak jobs report is raising speculation that the Fed will roll out another round of quantitative easing with the goal of keeping interest rates low.

Interest rates are back down near historic lows so I think it’s a good time to lock.

Current Outlook:  locking