Weekly Mortgage Update

Here’s hoping you had a great Thanksgiving with friends and family last week!

This week we will get two big reports that have the potential to move mortgage rates.

The first one is ADP’s employment report, coming on Weds., which is a preview for Friday’s updated Non-Farm Payrolls report from the Dept. of Labor.

This report will have extra significance since it comes after last month’s better-than-expected jobs report. If this one also looks strong, it may convince the Fed to start tapering their bond-buying program sooner.

Bottom Line for Mortgages

A strong jobs report on Friday may move mortgage rates up. If the Fed does signal they will begin tapering their bond purchases at this month’s meeting, it could send mortgage rates even higher. 

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