Today mortgage rates jumped after the Bureau of Labor Statistics have said that the unemployment rate was fallen to 9.4% in July as compared to 9.5% in June, which has surprised most of the economists who have estimated that the rate would go as high as 9.8% in July.

As a result of better unemployment picture, conforming fixed-rate 30-year mortgages above 5.50% are now being offered by banks, which have risen up from rates of 5.25% earlier this week.

Current mortgage rates have not reached a much higher level than the low mortgage rates that were set last month around 5.00%. There is another way by which you can buy mortgage rates down by paying points, the more points (discount points) you pay the lower the mortgage rate will be.

Probably the mortgage rates will still stay low for a while since inflation is not a threat with the high unemployment rate. The government still realizes that the housing market is still ot stabilized completely. As for the unemployment numbers the U.S. non-farm payroll in July dropped another 247,000 jobs , but this is lower than the average loss of 331,000 jobs in the past three months.

Are you searching for Current Mortgage Rates? MonitorBankRates.com has provided free mortgage rate tables that an be used by you to find the best mortgage rates in your zip code.

People who liked this Post also read

• Current Mortgage Rates – Today’s Interest Rates Stable at 5.50%
  Since the beginning of the week current mortgage rates have stabilized. Friday’s unemployment rate have shown a surprising decline over May’s unemployment numbers due to which the mortgage rates were forced to rise a little bit but rates......
• Where to Find Mortgage Lenders
  Mortgage lender is any bank, financial or some other institution that lend you loan to purchase home. You must search for the best mortgage lender who fulfills your requirements. You can search for them through new paper as well on internet. The repute o ...
• Millennium Bank cuts mortgage rates by 3.5%
  The interest rates of the individuals’ mortgage and home equity loans have been cut up to 3.5% by Millennium Bank. The calculation of new rates are based on......
• Home Equity Loan Comparisons
  This article is emphasizing on Home equity loan comparison. comparing between different home equity loans is vital to analyse different options to get the best interest rate. We can compare these through several lenders, mortgage brokerage offices or can ...
• Mortgage Points
  In order to attract more customers towards the company, the mortgage companies are adopting different ways. Some are more into customer services while others are cutting down mortgage rates to increase their clientage....