Mortgage Rate Climb on Jobs Number

Mortgage rates make an immediate negative reaction in the bond market. Reinforcing an upward trend in mortgage rates over the last several weeks. However, anticipate some volatility as the equity markets open. Early trading will reveal if traders have already priced in a staggering surprise as jobless claims top 600,000 and the unemployment rate jumps to 7.9%--a 17 year high.

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National Rates

Loan Type Today +/-
30 yr fixed 3.80
15 yr fixed 3.10
5/1 ARM 2.73

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