San Diego Mortgage Rates Update 01/07/2010

San Diego mortgage are in a sideways pattern this week ahead of tomorrow’s release of non farm payroll numbers. Inflation remains the top concern of economists and mortgage backed securities traders.  The jobless claims report came out today showing first time unemployment claims rising by a modest .25% which was better than expected and those who continued to receive benefits fell by 165,000. There are still 5.5 million people out of work and collecting benefits so be thankful if your are one of the fortunate ones with a stable job!

Most of my wholesale lender issued rate sheets that were slightly worse from yesterday. The par 30 year fixed rate is in the 5.0% – 5.125% range for highly qualified borrowers. Highly qualified assumes a credit score of 740, loan to value of 80% and pay one point loan origination.   Check back tomorrow to see how the payroll numbers affect San Diego Mortgage rates.