Tomorrow morning brings us the release of weekly unemployment claims, but I dont expect it to have much impact on mortgage pricing. Traders will be much more interested in Fridays monthly data than just a weeks worth.

The Labor Department will post Marchs Employment report early Friday, giving us the U.S. unemployment rate and the number of jobs added or lost. This is an extremely important report to the financial and mortgage markets. It is expected to show no change in the unemployment rate of 4.8% and approximately 190,000 jobs added to the economy during the month. The ideal scenario for the bond market and mortgage rates would be an increase in the unemployment rate and a smaller than expected number of new jobs.

If I were considering financing/refinancing a home and needed a mortgage in Charlotte or Raleigh NC, I would.... Lock if my closing was taking place within 7 days... Float if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my Charlotte Home Loans closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

About the Author

Lee Sharpe of STS Financial is a Huntersville Mortgage Broker providing Service to Charlotte Home Loan customers with 100% financing options for and mortgages for all of North Carolina.