Mortgage Rate Rally Short Lived. Rebate Reduced After Jobs Data

January 4, 2010 · Posted in Latest Interest Rates

Mortgage rates improved for the first time in six sessions yesterday as mortgage backed securities price appreciations early in the day allowed lenders to boost rate sheet rebate. Mortgage rates are slightly worse this morning after a better than expected Jobless Claims report. The weekly jobless claims report totals the number of Americans who filed for first time unemployment benefits in the previous week. Included within this report are continuing claims and extended benefits claims. Continuing claims totals the number of Americans who continue to file for unemployment benefits (because they haven't gotten a new job). Extended benefit claims totals the number of Americans who’ve used up their traditional benefits and are now collecting extended payments under recent government…(read more)

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