Strong Jobs Report Fuels Higher Mortgage Rates

By Stevie Duffin Updated on 2/6/2015

The January jobs report is in, and a strong one: 257,000 jobs were added last month, although as a side effect of the inflated work force, the unemployment rate was recorded 0.01 tick higher at 5.7 percent. Revisions to previous reports showed improvement as well, accounting for a total 147,000 jobs overall. Mortgage bond MBS trading tanked; watch for rising mortgage interest rates. 

Previous: A low ISM New York reading (down to 44.5 from the previous 70.8) is not affecting mortgage bond trading much today, especially with a large fuss being made over European activity. MBS are holding their ground in the face of the Euro insecurity; watch for dropping mortgage interest rates.

Bookmark this page for daily mortgage rate updates:

• 30 year (FRM) rates at 3.63% (0.00).
• 15 year (FRM) rates at 3.00% (-0.01).
• FHA 30 year Fixed rates at 3.25% (0.00).
• Jumbo 30 year Fixed rates at 3.63% (0.00).
• 5/1 ARM rates at 3.08% (0.00).