Mortgage Bond Comment
Mortgage Bonds opened a little lower this morning, as Traders may be exercising caution ahead of today's Treasury Auction and tomorrow's official Jobs Report.
In the news, Initial Jobless Claims were reported slightly worse than expected and the four-week average of new claims rose to its highest level in eight weeks. Overall, the report indicates that the labor market is still having difficulty. This comes ahead of tomorrow's official Jobs Report, which is the best measure we have of real-time job creations and losses.Working against Bonds is the Treasury Auction, the potential for a better-than-expected Jobs number, and other technical factors. Weighing it all out, I recommend locking at this time.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.co/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
In the news, Initial Jobless Claims were reported slightly worse than expected and the four-week average of new claims rose to its highest level in eight weeks. Overall, the report indicates that the labor market is still having difficulty. This comes ahead of tomorrow's official Jobs Report, which is the best measure we have of real-time job creations and losses.Working against Bonds is the Treasury Auction, the potential for a better-than-expected Jobs number, and other technical factors. Weighing it all out, I recommend locking at this time.
Leonard Winslow, Dominion Trust Mortgage
434-760-2580 (cell)
leonard.winslow@dominiontrustmortgage.com
www.dominiontrustmortgage.co/leonard.winslow
Licensed by the Virginia State Corporation Commission. License #: MC-5112.
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