Today seems a tad off for me and I apologize for reporting in late.  After the stock market surge on Tuesday (+400 points) and better than expected report on ADP Employment number the stock market started out good.  Then Bernanke stepped up and mentioned the R Word (Recession) causing the Dow to fall. 

The bond market is also in limbo...Currently the yield is at 3.58 and most mortgage rates are hovering around 6% for a 30 year fixed conventional mortgage.

Reporting tomorrow is Jobless Claims and ISM Non-Manufacturing.  The BIG report on Employment due out on FRIDAY 4/4...Fridays report has a direct impact on the markets...So stay tuned.

Good Luck

 

 

3 Comments on Mortgage Market Update - 4/2/2008

Keep us all posted .........we heard that the mortgage rates did not go up yet, still hovering at near 6% .....is that true?  The lenders are all telling us they are going up.....

04/02/2008 02:37 PM by Ernie & Barb Suto (Century 21 Preferred Realty)

Hey Sherry...        No worries about reporting back late.      Still great information.    

How 'bout the new jobless claims # this AM..        407,000 new peeps on the unemployment  line.....        If tomorrows non farm jobs report is weak again...      We could be in for lower rates!!

 

 

 

04/03/2008 08:12 AM by Chris Catanese (Ultimate First Time Buying Guides)

Who knows what might happen.  It is hard to even begin to guess.

04/03/2008 11:06 AM by Don Draughn - Debt Counselor (USA Services - Financial Debt Freedom)

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Loan Officer: Sherry Bradley (Fidelity and Trust Mortgage)
Sherry Bradley
Charlotte, NC
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