Mortgage Interest Rate Update 01.24.2013

After a better than expected unemployment report bonds sold off in the early morning hours however buyers stepped in and the market recovered to nearly flat levels.  Mortgage rates remained generally flat/a bit worse depending on the loan program.  Interest rates and loan programs continue to play a prominent role in the feds desire to push mortgage rates down, and expand the product line for borrowers.  California refinance applications remain steady and purchase transactions continue to rise.  As we continue to wait on Washington to solve their problems lender’s attempt to learn the new rules and regulations set forth by Congress and the Fed.