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Conforming, FHA, and USDA mortgage rates are rising. Will Friday's jobs report make them spike?
There's a silver lining in the poor June jobs report. Mortgage rates are sinking. It's a good day to shop-and-lock.
Last year, a sagging, slowing U.S. economy is one reason why mortgage rates were so low. As those conditions reverse, it follows that mortgage rates should reverse, too. And they are.
According to the government, 95,000 jobs were lost in September. Economists expected a net loss of 5,000. Mortgage rates are improving as a result of "the miss".
No matter what you think about your mortgage qualifications -- too little equity, too little income, too big of a loan size -- take 5 minutes out of your day to call your loan officer. Find out whether you qualify for a mortgage at today's rates. Sure, rates may fall lower, but, then again, they might not.
