Are you concerned about the future of mortgage rates? Are you confused about the actual condition of the US economy today? I’ve researched the most recent data for you that show mortgage rates dodged a bullet this week, ending a 5-day losing streak and moving lower for the first time since May 28.
Here’s what loan originators have to say about the latest news:
“After a week of important data, it looks like investors are still sitting in a very protective position. The safe move is to lock. ” -Brent Borcherding, Capital M Lending
“Most lenders have re-priced for the better so if you floated overnight you should be able to lock with better terms today. – Victor Burek, Open Mortgage
“At the end of the day, we had some improvement to lessen the sting of recent deterioration in mortgage pricing. Locking your rate seems the prudent thing to do.” -Hugh W. Page, Sen. Mortgage Consultant, Capital Partners Mortgage
Finally, let’s take a look at the Employment Report for May, another factor affecting mortgage rates in the U.S.:
|Nonfarm payrolls||200,000 est.||288,000 prior month|
|Unemployment rate||6.4% est.||6.3% prior month|
I stay abreast of all the latest real estate news to help my clients, both buyers and sellers, make the best choice when it comes to their mortgages. If you are still concerned about the future of mortgage rates, please give me a call at 805.886.9378 or email me at Cristal@montecito-estate.com with any questions or comments. And be sure to check out my website to see what’s on the market today.