Unemployment figures (non-farm payroll) and the jobless rate were both better than expected, so the Fannie Mae 30 year 4.0 coupon dropped like a rock this morning opening down almost 70 basis points. That means mortgage rates are on the rise. We are seeing a correction right now with the market up 13 basis points. We are now at the bottom of the recent trading range. Hopefully we will see this freefall stop and flatten or correct upwards.
Friday, December 4, 2009
RateWatch 12-4-2009
Unemployment figures (non-farm payroll) and the jobless rate were both better than expected, so the Fannie Mae 30 year 4.0 coupon dropped like a rock this morning opening down almost 70 basis points. That means mortgage rates are on the rise. We are seeing a correction right now with the market up 13 basis points. We are now at the bottom of the recent trading range. Hopefully we will see this freefall stop and flatten or correct upwards.
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About Me
- David Kimmer
- Beaverton, OR, United States
- David is a loan officer for American Pacific Mortgage. He has worked in the lending industry since 2000. Prior to that he invested 19 years in the insurance industry. He enjoys helping people finance the purchase of their dream home.
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