There was potentially good news for mortgage rates on Wednesday as the Fed's Federal Open Market Committee (FOMC) announced that its quantitative easing (QE) program would remain unchanged for the present.
The 2013 housing market is expected to perform well. Job growth is playing a role in its recovery.
For Thursday and Friday, expect jobs data to dictate where mortgage rates are headed.
Mortgage bonds improved last week, pushing mortgage rates lower nationwide.
According to the Bureau of Labor Statistics (BLS) and its November 2012 Non-Farm Payrolls report, the U.S. economy added 146,000 net new jobs last month.
Friday morning, the government's Bureau of Labor Statistics will release its Non-Farm Payrolls report.
Since the jobs report's release last Friday, mortgage rates are dropping.
Last Friday, in its Non-Farm Payrolls report for the month of March, the Bureau of Labor Statistics announced 120,000 net new jobs created, plus combined revisions in the January and February reports of +4,000 jobs.
At 8:30 AM ET Friday, the government's Bureau of Labor Statistics will release its November Non-Farm Payrolls report. Have you been floating a mortgage rate? It may be time to lock.
Within the next 48 hours, mortgage rates may get bouncy. The Federal Open Market Committee will adjourn from a 2-day meeting and October's Non-Farm Payrolls report is due for release. Of the two market movers, it's the Non-Farm Payrolls report that may cause the most damage.
Mortgage rates are prepped to make big moves in the next 36 hours. Is it time for you to call in your rate lock?
Mortgage rates are prepped to make big moves in the next 36 hours. Is it time for you to call in your rate lock?