March Madness Mortgage Rates

March 27, 2011 by · Leave a Comment 

It’s been two weeks since my last “scheduled” rate post so the arrows you see below are reflective of the change in interest rates since Monday, March 14.  Next Monday’s rate post should be interesting as it’s after April Fools.  Why does this matter?  Unless the pending lawsuits are successful in stalling the Fed’s rule on loan originator compensation, I will not be able to personally price rates…in fact, I won’t even be allowed to use any of my compensation to help pay for closing costs for my clients.  It’s another classic case of the government meddling too late in the mortgage biz (where were they DURING the subprime crisis?) and doing too much without having a CLUE of the consequences (think of the appraisal issues caused by HVCC and HUD’s confusing and too restrictive Good Faith Estimate).   Rant over…now it’s time for this week’s rates.

Here are some of what’s scheduled for release this week that may impact rates:

Monday, March 28:  Personal Consumption Expenditures and Core PCE and Pending Home Sales

Tuesday, March 29:  Consumer Confidence

Wednesday, March 30:  ADP National Employment Report

Thursday, March 31: Initial Jobless Claims and Chicago PMI

Friday, April 1: THE JOBS REPORT

Rates posted below are as of 12:00 p.m. on March 28, 20

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