The unemployment report which I saw on CNBC stated that the US economy lost 85,000 jobs in the month of December which could mean the mortgage interest rates could come down a bit from their existing positions.
The mortgage interest rates have been going higher and higher since November 30, 2009. The poor report today could cause a small drop in rates and that's what most home buyers will be hoping for.
In my opinion, lower rates could cause much mortgage rate lock activity as most borrowers and most mortgage professionals did not lock in before November 30th.
Let's hope for a decrease in the mortgage interest rates so that more consumers can take advantage of these low rates. You can't get greedy in this highly volatile market and you need to be pro-active. I watch the market like a hawk for my clients here in Connecticut.
Let me know if you have any questions about the mortgage interest rates and if you just simply would like a rate quote then email me now at Nima@concorde.bz
Your CT Mortgage Professional,
Executive Mortgage Banker