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Mortgage Rate Update 8-2-13: Trends Projections & Today's Best Rates
The highly anticipated employment data was weaker than expected this morning. As a result, Mortgage Backed Security (MBS) prices jumped swiftly and erased much of yesterday's losses. The economy only added 162,000 jobs (well below the consensus of 180,000 jobs predicted). Unemployment figures have dropped to 7.4%.
This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to browse the library and research historical rate updates dating back over 2 years at www.JasonGordon.info whenever desired.  To make things easier, I have also posted a quick report on How To Read The Charts Below.
Also, make sure to learn THE TOP 10 THINGS TO KNOW ABOUT MORTGAGE RATES (to help understand the relationship between rates & fees/credits) along with THE TRUTH BEHIND MORTGAGE QUOTES (to better understand the relationship between up-front closing costs and mortgage interest rates so you don't get duped by clever advertising campaigns). Remember, we all make better decisions in life when we have the actual facts to analyze...share this report with those whom you care about!

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