My New Blog

Daily Mortgage Update

April 2, 2010

Should you lock today?

Good Morning;

Today’s 1 minute Video Update is on Today's Unemployment numbers and should you lock today?

http://www.agoodlender.com/MyBlog

Mortgage Bonds are trading significantly lower this morning in response to the positive headline numbers of the Jobs Report.

According to the report, 162,000 jobs were created in March, making it the biggest one-month increase in 3 years. Adding to the positive news were upward revisions to January and February, which brought the last two month’s net job losses near zero.

Without the support of the Fed's MBS purchase program, prices will more realistically reflect market conditions. Although rates are still good right now, they are up and we can expect them to gradually head higher over time. Therefore, I recommend locking in general starting Monday as the markets are already closed today.

Rodney Roloff

Director of Sales

CA  DRE #1142903

Cal Coast Financial Corporation

39355 California Street; Suite 300

Fremont; CA  94538

(510) 456-3008