Mortgage Market Update 4-02-21

Job growth boomed in March at the fastest pace since last summer, as stronger economic growth and an aggressive vaccination effort contributed to a surge in hospitality and construction jobs, the Labor Department reported Friday. Nonfarm payrolls increased by 916,000 for the month while the unemployment rate fell to 6%.

Mortgage applications to purchase a home fell 2% for the week, but are 39% higher than a year ago. Record-low inventory is pushing home-price growth even higher. The housing market is in desperate need of more inventory to cool price growth and preserve affordability.

The Fed will not be purchasing mortgage-backed-securities today while the bond market is on a shortened day due to observing Good Friday.

With interest rates still at multi-year lows, lock rates are recommended for approved files, as well as paying attention to the market.

劳工部周五报道，由于强劲的经济增长和积极的疫苗接种努力，三月份的工作增长以自去年夏天以来最快的速度增长。当月非农就业人数增加了916,000，而失业率降至6％。

购房抵押贷款申请量下降了2％，但较去年同期增加了39％。创纪录的低库存正在推高房价增长。住房市场迫切需要更多的存货，以冷却价格上涨并保持可负担性。

由于耶稣受难日的遵守，今天债券市场在缩短的一天中，美联储将不会购买抵押贷款支持的证券。

由于利率仍处于多年低点，建议对已批准的贷款申請锁定利率，同时要注意市场變化。

Economic Calendar

Report

Period

Estimate

Impact

Date: Mon. Apr 05

ISM Services Index

Mar

58.5

Moderate

Date: Thu. Apr 08

Jobless Claims (Initial)

4/3

699K

Moderate

Date: Fri. Apr 09

Producer Price Index (PPI)

Mar

0.5%

Moderate

Core Producer Price Index (PPI)

Mar

0.3%

Moderate

Today’s Rate

Apr. 02, 2021

Conforming Loan

Loan Term (Yr)

Rate (%)

APR (%)

30yr Fixed

2.875%

2.942%

15yr Fixed

2.125%

2.192%

High Balance Loan

Loan Term (Yr)

Rate (%)

APR (%)

30yr Fixed

2.875%

2.942%

15yr Fixed

2.125%

2.192%

Jumbo Loan

Loan Term (Yr)

Rate (%)

APR (%)

30yr Fixed

3.125%

3.192%

Daily rate based on: SFR/Primary/LTV60/FICO 780/Purchase

IMPORTANT: Advertised rates were valid and effective as of the date reflected above, are for informational purposes only, and are subject to change without notice.

Loans are subject to credit and collateral approval. Advertised rates are based on a set of loan assumptions including a borrower with excellent credit history and optimal loan characteristics. Your final interest rate and annual percentage rate (APR) may differ depending on your individual transaction’s specific characteristics, and certain products may not be available for your situation. Several determining factors include, but are not limited to, the state of the property location, loan amount, documentation type, loan type, occupancy type, property type, loan to value, and credit score.

APR reflects the cost of credit over the term of the loan expressed as an annual rate. For mortgage loans, APR may include the interest rate, discount points (also referred to as “points”), and other charges or fees (such as mortgage insurance and origination fees), but does not necessarily take into account other loan-specific finance charges you may be required to pay.

Golden Star, Inc. dba Transglobal Lending, 185 W. Chestnut Ave., Monrovia, CA 91016, NMLS # 1437002 (www.transgloballending.com). All rights reserved. Equal Opportunity Employer and Equal Housing Lender. All mortgage products are subject to credit property approval. Rates, Program terms and conditions are subject to change without notice. Additional conditions, qualifications, and restrictions may apply. This is not an offer for extension of credit or a commitment to lend.