Mortgage bonds are dropping again and interest rates are again on the rise. Couple factors influencing the drop in mortgage bonds is China's Purchasing Manager's index came in very good and at a 7 month high.
ADP Report came out with employment rose by 93,000 which was way better than expectations of 58,000 and was the largest gain in 3 years. Also noted Octobers report was revised to 82,000 jobs created up from the 43,000 originally reported. It will be interesting to see on the Jobs Report which is due to come out on Friday.
Nearly 3.8 million people will lose their Emergency Unemployment Compensation benefits that lased for 99 weeks. Congress didn't come up with a plan to extend the program yesterday.
Wisconsin mortgage interest rates are still very good. They are now higher than the lowest levels from a couple weeks ago. If you haven't refinanced yet, I would suggest locking in as rates are going to rise in 2011.
Ron Meyer is a Wisconsin licensed Sr. Loan Originator NMLS #222688 with GSF Mortgage Corporation NMLS #1018 located at 300 Patriot Dr. Little Chute, WI 54140 We specialize in financing purchases and refinancing home loan mortgages for all of Wisconsin. As a local lender we pride ourselves on offering quality service before and after your closing. Our underwriting is all done in house, allowing us to have quicker than normal processing time of your loan.
No comments:
Post a Comment