Rate Forecast: How the February Jobs Report is Impacting Rates - Home Loan Experts with Great Mortgage Rates Serving Colorado, Florida, Illinois, Indiana, Michigan, Minnesota, Tennessee and Wisconsin

Tuesday, March 12, 2013

Rate Forecast: How the February Jobs Report is Impacting Rates

Despite fiscal uncertainty, ADP released unexpected numbers, showing a staggering 198,000 jobs added in February. This was nearly 30,000 more jobs than predicted by economists. While these numbers show signs of improvement for the economy, bonds are certainly taking a hit.

Confidence in the job forecast, along with news that China has pledged to support economic expansion is pushing stocks to record highs. This surge has caused a downward spiral in the bond market, which is causing rates to trend upward.

For borrowers in Illinois, Michigan, Minnesota, and Wisconsin, this means the refinance window is closing. For those that have not taken advantage of these historic low interest rates, it is now or never.

Economists are predicting interest rates for a 30 year fixed mortgage to reach 4.00% by the fourth quarter of this year. Take advantage of these rates while they’re still available by getting a quote today. United Home Loans is licensed in Illinois, Michigan, Wisconsin, and Minnesota and offers competitive quotes on fixed and adjustable rate mortgages.


Illinois Mortgage Rates
IL 15 Year Fixed mortgage as of March 12, 2013 2.625%/2.838 APR -1- Point

Please click this link for APR assumptions and more IL mortgage rates

Michigan Mortgage Rates
MI 15 Year Fixed mortgage as of March 12, 2013 2.625%/2.838 APR -1- Point

Please click this link for APR assumptions and more MI mortgage rates

Minnesota Mortgage Rates
MN 15 Year Fixed mortgage as of March 12, 2013 2.625%/2.838 APR -1- Point

Please click this link for APR assumptions and more MN mortgage rates

Wisconsin Mortgage Rates
WI 15 Year Fixed mortgage as of March 12, 2013 2.625%/2.838 APR -1- Point

Please click this link for APR assumptions and more WI mortgage rates


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