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Mortgage Rates

Mortgage Bonds are starting the day sharply higher after Initial Jobless Claims rose higher than expected. Upon hearing the news, investors shifted money from Stocks to Bonds–which helped Mortgage Bonds improve. Yesterday, the Federal Reserve reiterated that its Mortgage Backed Security purchase program will end in March as scheduled. For now, I recommend floating to see if Bonds can gain some... [Read more]

Mortgage Bonds are traded higher this mo…

Mortgage Bonds traded higher this morning, because of comments by Fed Chairman Bernanke and because stocks fell. Yesterday, Bernanke commented on interest rates, inflation, and the economy–saying that recovery faces “formidable headwinds.” Since his speech yesterday, Stocks, Oil and Gold have traded lower as investors run to higher ground of Bonds. Also pressuring Stocks lower is negative... [Read more]

Mortgage Rates

The Jobs Report released Friday was very suprising to the market. The Labor Department reported that only 11,000 jobs were lost in November, which was far fewer than the 125,000 job losses that were expected. In more good news, the Unemployment Rate improved to 10.0%, down from last month’s reading of 10.2%. This was great for the economy, but it was not good for Bonds, which were down. This... [Read more]