Mortgage Rates took a hit the first two weeks of April
Mortgage rates took a hit the first two weeks of April because of a better than expected jobs report. That sounds kind of counter intuitive but that is the way it goes with mortgages rates. It’s just supply and demand for who wants mortgages. More people working means more people looking for or needing a mortgage.
Also, an unexpected good number with the jobs report is a little inflationary by just a little so we had a move in the wrong direction the last two weeks but I don’t expect this to last long.
We will keep you posted