The jobs report is pushing bond deals with mortgage rates follow loosely lower because the number was in line with expectations. The bigger move actually was last week when mortgage rates took their biggest leap in 2 years on a daily shade on the heels of news from the European Central Bank. Now the average lender saw eight point hike in 30 year fixed rate last week. that's about 1.% of the loan amount and upfront cost for a borrower. A move like this is pretty rare Mortgage News daily points out there are only 14 other days in the past 5 years that we've seen a big jump like this yes it only equates to about $14.00 a month on a $200,000 loan but it still freaks out today borrowers for sure. Rates now higher than a month ago but mortgage applications to buy a home are at their best level since October could be buyers are getting off the fence in fear of even higher rates.