Rate Update

Well its good news for the economy, but bad news for mortgage rates. In the last few weeks we had touched on historically low rates again. However we have seen positive economic news almost every day this week, especially today. Only 11,000 jobs were lost in the month of November, the expectation was 125,000 jobs lost. Also the unemployment rate came in at 10%, and was expected to be 10.2%. This is really hitting the bond market hard today, and rates are headed up as well.


As we have talked about before the climb out of this recession will not be a smooth one, we will have bumps in the road. A chart of this will look more like a W than a V.

For the near future I recommend locking as soon as you can. I will continue to keep you updated.