Rates were great today, 3/5/2009, but I need interest rates for a 30 year fixed loan to get below 4.875% and 4.5% for a 15 year fixed. The one thing that could help that scenario to happen is that there be a increase in the unemployement rate in tomorrow morning’s report, a drop in payrolls, and little or no incresase in earnings.
How can I track tomorrows outcome in such reports? The forecasts for unemployment are .3% increase to 7.9%. So if you Google “todays unemployment report” after say 8:30am Eastern Time and compare the findings to the above, you will at least have hope that lenders open with better rates…they don’t always follow as we plan or hope.
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