Rates jumped this week. Here's what it costs you.

The government reported 172,000 new jobs Friday, way above what economists expected. That's good news for the economy, but it pushed mortgage rates up. the 30-year fixed rate is 6.375% today. That's higher than where we were a week ago, when rates had been moving in a tight range.

On a $500,000 loan, that rate puts your monthly payment (principal and interest only) around $3,100. A quarter point lower would save you about $75 a month. A quarter point higher costs you the same amount. So yes, it matters.

If you're shopping now, get pre-approved with today's number so you know exactly what you can afford. Rates move. Your budget shouldn't be a guess. I answer my phone, and we'll get you a real number in a day. NMLS 2010859. Rates shown for informational purposes only, not a commitment to lend, subject to change. Equal Housing Lender.