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Mortgage Market Update - 4/2/2008

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

Posted by Sherry Connor on 04/02/2008 02:32 PM

Comments (3)

mortgage market update, sherry bradley, mortgage loan officer, refi, finance

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

APR

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.....

APR

2008

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!!

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

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