Today’s payroll flop — only 20,000 real jobs created in May — will take some time to settle all the way in. Immediately: 10-year T-notes are 3.22% (from 3.36% yesterday and 3.99% six weeks ago), and mortgages below 5.00%. The payroll report has confirmation: new unemployment has held high for five months; May retail sales look soggy (“same-store” data); auto sales flubbed in May; and housing shows every sign of a serious fade, post-tax credit. Purchase applications have hit a 13-year low; the unemployed do not apply, nor do the underwater, and the few, the brave who think they are qualified often find themselves in the “rejected” pile.

Pacor Mortgage brings you RatePulse, the video series that gives you the inside scoop on this week’s movers and shakers in the mortgage industry.

RatePulse is a weekly video series provided by your Pacor Mortgage representative to explain the movers and shakers that will affect the mortgage industry this week.

Pacor Mortgage brings you the weekly RatePulse video, giving you the information you need to know the ins and outs of the mortgage market this week!

So the European debt crisis is taking a toll on the markets. In fact we have quite a few things happening but all roads are leading to the same place. Thirty year fixed rates are below 5% and fifteen year rates are below 4.25%. If you have not explored your mortgage options lately, it is time to do so. It may be the last great opportunity before the market turns.

Pacor Mortgage brings you RatePulse.

For anyone who assumed that the toughened real-estate appraisal rules imposed on the mortgage market last year would mean less monkey business in home valuations, here’s a shocker: Fraudulent appraisals soared in 2009, according to a lending-industry study released this week, and they now represent the fastest-growing form of home loan fraud.

The RatePulse provides insight into the topics that will shape the mortgage market this week!

One of the major challenges for home buyers over the last several years has been tightening lending guidelines. When guidelines get tighter the same income level qualifies a potential home buyer for less house for the same monthly payment. In fact, compared to several years ago buyers are seeing their ability to purchase about “thirty percent” less house than during the boom years of 2004-2007.