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Mortgage Rates Mixed

Mortgage Rates Mixed - Tomorrow the Bureau of Labor Statistics will release the Employment Situation Report. This is the single most influential monthly dataset shared with the market. It carries the potential to shift investment perspectives and realign outlooks.

It could be way better than expected and 30 year fixed mortgage rates could go into the 5's by the end of the day. It could be way worse than expected and rates might take reasonable steps back toward 4.25%. It could do either of those things and rates could be relatively unchanged. Or it could do either of those things and paradoxical opposite reactions could occur. The point here is that tomorrow is definitely NOT about how NFP prints compared to how economists expect it to print. It is all about how the market receives it and whether or not there are any other major news events being digested at the time (Europe is a continuing theme that comes to mind).

Would we take that reaction to be a sign of things to come in 2011? Or just temporary indigestion over positive economic data that is bound to have counterpoints come out in the near future? Ultimately, one has to decide how high rates can go before they'd no longer be able to pull the trigger on a refinance or purchase. It's very important for you to calculate just how many DOLLARS PER MONTH you'd save if a rate went from 4.5 down to 4.25. So given your loan amount, you'd then know what every .25% in rate would save you in dollars. The bigger your loan amount, the more sensitive your payment is to changing interest rates.

Mortgage Rates Mixed

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Great news about mortgage rates its lowers downs because of the Statistics report released by the Bureau of Labor.

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