Mortgage Watch Report

Mortgage Rates put in a solid performance so far this week with substantial declines to the lowest levels in months of yesterday 4-6-23. (look at those rates below!!!)

Today, the stock and bond markets close early, which was not ideal considering the highly anticipated Jobs Report released this morning. Officially known as “The Employment Situation,” the jobs report is the single most important piece of scheduled economic data for interest rates on any given month. During times of higher inflation, it can share the crown with the Consumer Price Index (CPI), but that typically just means we have two really important reports in close proximity (CPI is next Tuesday) rather than one dominating the other.

Today’s Jobs Report showed 236,000 jobs. Market estimates were for 239,000 jobs, so close!

However, this was NOT good for Mortgage Rates as market sees this tame number as a reason The Fed will cut rates soon () which means stocks went up and so did rates.

Bottom Line: for now, mortgage rates are significantly lower than 4 weeks ago, so perfect timing for the busy Spring home buying season!


















Keith Murphy Branch Manager – Essex Mortgage NMLS #330827

Direct: 714-309-1140


About the Author

Tim Morissette, also known in the community as Mr. Foothill Ranch, offers over 46 years of real estate experience which has given him an established reputation and unmatched market knowledge. He is joined by his wife, Michele and sons Matt and Jeff, as they continue to offer personal service with an emphasis on achieving his clients’ real estate goals.  This unique combination of traits has led to his proven track record of referral and repeat business. This can be witnessed by the trust of homeowners in Foothill Ranch where he has sold twice as many homes and represented three times more buyers than the next-leading real estate agent for the last 26 years.

As residents of Foothill Ranch since 1994, Tim and Michele are actively involved in the community by fundraising for Foothill Ranch Library, Make-a-Wish Foundation, Cancer Society, Homes for Habitat, Relay for Life, South County Outreach, and the local church and schools. Tim enjoys sponsoring community-wide garage sales, paper shredding and e-waste recycling event, an Easter egg hunt, & a Meet Santa Event.

Tim and Michele are dedicated to their family of four sons, daughter-in-laws, and grandchildren. As a family, they enjoy many outdoor activities which include camping, spearfishing, mountain climbing and exploring the miles of hiking and equestrian trails in Foothill Ranch and the Whiting Ranch Wilderness Park. Tim and his sons are also avid snowboarders and enjoy mountain biking and lobster diving. Family is a top priority in the Morissette household. They look forward to helping more families achieve their dreams of homeownership.