Mortgage Rate Update: 6-2-16: Trends & Projections
By Jason E. Gordon, Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE
(CMG Mortgage, San Diego, CA)
Mortgage Backed Securities are up thus far today after declines yesterday. The European Central Bank (ECB) made no change in policy, as expected. The ECB expects to leave accommodative monetary policy in place for quite a while. In the USA, the ADP estimate for private sector job gains in May was 173K, very close to the consensus of $175K. Weekly jobless claims fell to 267K, which was also very close to expectations.Compared to Wednesday's closing, the market has opened with a 0.125 worsening to the Points/Credits associated with any given interest rate option.This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Professionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any ...
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