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Today's Interest Rates Conforming 40 yr Fixed------ 6.875% Conforming 30 yr Fixed-------6.500% Conforming 20 yr Fixed-------6.500% Conforming 15 yr Fixed-------6.250% FHA 30 yr Fixed------------------6.500% VA 30 yr Fixed--------------------6.500% FHA Jumbo-----------------------6.625% Reverse Mortgage for those 62 years or older-----Fixed HECM 6.65% Credit and LTV restrictions apply. Rates are subject to change daily. Equal opportunity lender Bond Market News for today The ADP Employment report was released this morning, showing a dismal reading of 79,000 jobs lost last month, which is the biggest loss since November 2002. Job gains for May were also revised lower. Initially, Mortgage Bonds traded higher on the negative news, but have since come off their highs. Since there are no economic reports due today, the Bond market will likely take its direction from Stocks--which are pretty flat right now. But things can change quickly in today’s market, so I will monitor the situation closely. The big news of the week will be tomorrow's Jobs Report. With a slow economy, emptier malls, soaring food and gas prices, and other news like Starbucks closing over 600 stores, the market remains stressed. These factors lead me to believe that the Jobs Report tomorrow will be inline with expectations of a more negative report. Since the negative news would likely give Bonds a boost, I advise floating into tomorrow's report. Today's Quote You have succeeded in life when all you really want is only what you really need. Vernon Howard
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