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 additional ground before facing a ceiling of resistance at the 50-day Moving Average. I will let you know if a change of course is needed.